Do you guys trust the banks with your money?
Posted by boosg12@reddit | preppers | View on Reddit | 14 comments
I've been debating on withdrawing some of my savings and cacheing it. Sorry if this has already been discussed I searched but didnt find anything.
Edit: thanks guys moving my money to a credit union already made investments in gold silver and lead
Halfpipe_1@reddit
Slight tangent to this topic:
I’m always astonished at the number of people who don’t carry even $5 on them. We feel fine with a $1000 iPhones but people are afraid to keep a couple hundred bucks in their wallet.
Cadent_Knave@reddit
$1000 iPhones are insured against damage and theft. Plastic can be deactivated if lost or stolen. Once cash is gone its gone.
kappamaster710@reddit
4 years later, who tf has phone insurance lmfao? only the people paying $40 a month for 72 months for their $1000 iPhone..
Wrong-Diet-9619@reddit
2 years later, where I’m from if your iPhones on a contract (most $1000+ phones are) you’re covered incase you break the phone or it gets stolen.
BonGonjador@reddit
I trust a bank/credit union to do bank/credit union things, like paying me interest, financing my car and insuring my savings via the FDIC.
What are you afraid they're going to do?
Forsaken-Trash3833@reddit
Credit unions are covered by NCUA not FDIC
BonGonjador@reddit
The banks part of "banks/credit unions" are covered by FDIC, but thank for the timely clarification.
Forsaken-Trash3833@reddit
you're wrong but I don't have the patience nor the time to argue with morons
BonGonjador@reddit
lol
Forsaken-Trash3833@reddit
I mean... you're the one who is propagating misinformation
BonGonjador@reddit
Most banks are FDIC insured. What part of that doesn't calculate for you?
Forsaken-Trash3833@reddit
Banks? Yes but credit union deposits are covered under the national credit union administration not FDIC. they are two similar but completely separate agencies
BonGonjador@reddit
So you just glazing over that I mention banks in my initial post?
Forsaken-Trash3833@reddit
yup, you did but you seemed to insist that credit unions are also covered by FDIC...