FDIC Insured

[Coronita]

What happen if the Countrywide goes under water? Does the interest you accumulate upto that point is insured if you do not exceed the FDIC insured amount? In another word, do you get both principal and the accured interest from the FDIC when bank goes under water?

R.T.F.M. 🙂 Just kidding.

 

"The FDIC would either transfer the insured depositor's account to another FDIC insured bank, or give the insured depositor a check equal to their account balance. This includes the principal and interest accrued through the date of the bank's closing, up to the insurance limit."

http://www.fdic.gov/deposit/deposits/deposit/faqs/index.html 

Where I would see you lose interest would be the time it takes for you to move the money to your new account after a bank fails.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[utcsox]

Thanks fat lazy union. I guess there is not much to worry when you deposit money in a FDIC insured shady bank.

[utcsox]

Thanks fat lazy union. I guess there is not much to worry when you deposit money in a FDIC insured shady bank.

[utcsox]

Thanks fat lazy union. I guess there is not much to worry when you deposit money in a FDIC insured shady bank.

[utcsox]

Thanks fat lazy union. I guess there is not much to worry when you deposit money in a FDIC insured shady bank.

[utcsox]

Thanks fat lazy union. I guess there is not much to worry when you deposit money in a FDIC insured shady bank.

[bubba99]

Atry,

Get your money out of the un-insured account now. Wells Fargo is the lowest paying bank around. The money is not safe, and even if it were, you should be getting 10% not 4.75% on a B.S. uninsured bank garbage fund. Remember how many people lost everything in the last real estate turndown.

Capital one is offering 4.5 on an insured money market, Wachovia is offering 5%+ on a 5 month certificate – all completely insured. Open a brokerage account and get 4.5% on the money in your trading account (completely insured)at morgan stanley or other big names.

Go to Wells Fargo, cash out the non-insured account, get a cashiers check and take it down the street.

[bubba99]

Atry,

Get your money out of the un-insured account now. Wells Fargo is the lowest paying bank around. The money is not safe, and even if it were, you should be getting 10% not 4.75% on a B.S. uninsured bank garbage fund. Remember how many people lost everything in the last real estate turndown.

Capital one is offering 4.5 on an insured money market, Wachovia is offering 5%+ on a 5 month certificate – all completely insured. Open a brokerage account and get 4.5% on the money in your trading account (completely insured)at morgan stanley or other big names.

Go to Wells Fargo, cash out the non-insured account, get a cashiers check and take it down the street.

[bubba99]

Atry,

Get your money out of the un-insured account now. Wells Fargo is the lowest paying bank around. The money is not safe, and even if it were, you should be getting 10% not 4.75% on a B.S. uninsured bank garbage fund. Remember how many people lost everything in the last real estate turndown.

Capital one is offering 4.5 on an insured money market, Wachovia is offering 5%+ on a 5 month certificate – all completely insured. Open a brokerage account and get 4.5% on the money in your trading account (completely insured)at morgan stanley or other big names.

Go to Wells Fargo, cash out the non-insured account, get a cashiers check and take it down the street.

[bubba99]

Atry,

Get your money out of the un-insured account now. Wells Fargo is the lowest paying bank around. The money is not safe, and even if it were, you should be getting 10% not 4.75% on a B.S. uninsured bank garbage fund. Remember how many people lost everything in the last real estate turndown.

Capital one is offering 4.5 on an insured money market, Wachovia is offering 5%+ on a 5 month certificate – all completely insured. Open a brokerage account and get 4.5% on the money in your trading account (completely insured)at morgan stanley or other big names.

Go to Wells Fargo, cash out the non-insured account, get a cashiers check and take it down the street.

[bubba99]

Atry,

Get your money out of the un-insured account now. Wells Fargo is the lowest paying bank around. The money is not safe, and even if it were, you should be getting 10% not 4.75% on a B.S. uninsured bank garbage fund. Remember how many people lost everything in the last real estate turndown.

Capital one is offering 4.5 on an insured money market, Wachovia is offering 5%+ on a 5 month certificate – all completely insured. Open a brokerage account and get 4.5% on the money in your trading account (completely insured)at morgan stanley or other big names.

Go to Wells Fargo, cash out the non-insured account, get a cashiers check and take it down the street.

[Author]

Posts