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FDIC Rules

L

Lightkeeper

Well-Known Member
I heard a story today about a person whose bank closed. He was FDIC insured but it took years for him to get his money back. He received payments of $100.00 a month. Have any of you had this experience? If you had a savings account would you use several banks?
 
michel

michel

Administrator Emeritus
Staff member
Lightkeeper said:
I heard a story today about a person whose bank closed. He was FDIC insured but it took years for him to get his money back. He received payments of $100.00 a month. Have any of you had this experience? If you had a savings account would you use several banks?
Click to expand...
Luckily, nothing like that has ever happened to me. But I can still hear my Mum's saying 'Never put all :)your eggs in one basket'
 
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