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The Watercooler
Well...had that difficult talk
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<blockquote data-quote="susiestar" data-source="post: 399535" data-attributes="member: 1233"><p>Janet, when you decide to transfer the money make SURE that if it is more than the maximum amount the FDIC insures then you leave a bit less than that FDIC max amt in one bank and put the rest in other banks. I know a few people who had several accounts at a bank that failed and the total of the accounts combined was more than that max amt - and they only got the max amt that was insured by the FDIC even though it was different accounts. This was many years ago (S&L bailout time) and it may be different now but I wouldn't take that chance if I had enough $$ to have to worry about that! (I worked in a bank for a couple of years and heard horror stories from when the S&L's failed.)</p></blockquote><p></p>
[QUOTE="susiestar, post: 399535, member: 1233"] Janet, when you decide to transfer the money make SURE that if it is more than the maximum amount the FDIC insures then you leave a bit less than that FDIC max amt in one bank and put the rest in other banks. I know a few people who had several accounts at a bank that failed and the total of the accounts combined was more than that max amt - and they only got the max amt that was insured by the FDIC even though it was different accounts. This was many years ago (S&L bailout time) and it may be different now but I wouldn't take that chance if I had enough $$ to have to worry about that! (I worked in a bank for a couple of years and heard horror stories from when the S&L's failed.) [/QUOTE]
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Well...had that difficult talk
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