Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Why do some people feel alittle leary about putting their money in a bank?

 
Anonymous

Asked by Anonymous at 8:29 PM on May. 2, 2010 in Money & Work

This question is closed.
Answers (3)
  • well, before FDIC the banks werent insured and so when the depression hit, A LOT of people lost their money...people started keeping all their money at home, in mattresses, etc.

    now, as anon17 said, banks are not as secure as what we thought even with FDIC since there have been bank issues with the recent economy issues. so that is why.

    also, some people dont manage money well so when they overdraft they get hit with HUGE fees that just inflame their poor money management skills.
    aly38914290

    Answer by aly38914290 at 9:40 PM on May. 2, 2010

  • I am not leery- We are part of a credit union.
    txdaniella

    Answer by txdaniella at 8:43 PM on May. 2, 2010

  • Proably cause you are lending your money to them for free, plus the money is not so secure anymore FDIC is kinda useless.

    banks are making big nucks off your money sitting there, $10 on the dollar! and you get nothing or someting that doesnt touch inflation!
    Anonymous

    Answer by Anonymous at 9:17 PM on May. 2, 2010

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN