also, like I said, you and I have FDIC insurance protecting literally all the money in our accounts. this is a capitalist-made capitalist problem. well, until the recession drives businesses out of the market and we all start losing our jobs. between here and there I'm going to enjoy some :antelope-popcorn:
Hopefully it stays that way. I don’t have anything close to that in savings I was just checking because I’m notoriously unlucky so I wanted to make sure I was safe.
As long as the US federal government exists, you should be good, they insure everything below that amount.
The top concern is if your company has their money in there (Roku, SV startups, etc...) And they can't withdraw enough to pay you, which you can't do anything about anyway and would definitely fuck you over.
Otherwise it's not worth the stress and you can :sit-back-and-enjoy:
yea I got suspicious a few months back of whether my "neo-bank" was really a real bank cause the wire transfers used a completely different bank's name. so I just moved everything over a month ago to a credit union. so seeing this and seeing the bank that was showing up on my wire transfers as one of the companies who's stock TANKED today, I feel like I really dodged a bullet. vibes based financial decisions worked!
unless you're/they're over the $250k fdic limit individually, the biggest immediate issue is that the bank might cease operating and it will take time to get a payout. so try to keep back up funds secured at some other bank just in case, especially if it's gonna hit your whole circle all at once if it does go sideways.
Is there a list of which smaller banks are in hot water? Would like to get my shit out
also, like I said, you and I have FDIC insurance protecting literally all the money in our accounts. this is a capitalist-made capitalist problem. well, until the recession drives businesses out of the market and we all start losing our jobs. between here and there I'm going to enjoy some :antelope-popcorn:
if you have less than $250,000 in assets at a given bank, there's no point in going through the process right at the moment
Hopefully it stays that way. I don’t have anything close to that in savings I was just checking because I’m notoriously unlucky so I wanted to make sure I was safe.
As long as the US federal government exists, you should be good, they insure everything below that amount.
The top concern is if your company has their money in there (Roku, SV startups, etc...) And they can't withdraw enough to pay you, which you can't do anything about anyway and would definitely fuck you over.
Otherwise it's not worth the stress and you can :sit-back-and-enjoy:
What do you mean no point?
I thought we were doing a bank run =(
lol if you're doing it out of fun rather than any anxieties or concerns I'm all for it
https://www.marketwatch.com/story/20-banks-that-are-sitting-on-huge-potential-securities-lossesas-was-svb-c4bbcafa
Thank you. Looks like I’m good for now. Glad most of my stuff is in a credit union
yea I got suspicious a few months back of whether my "neo-bank" was really a real bank cause the wire transfers used a completely different bank's name. so I just moved everything over a month ago to a credit union. so seeing this and seeing the bank that was showing up on my wire transfers as one of the companies who's stock TANKED today, I feel like I really dodged a bullet. vibes based financial decisions worked!
o7 to the vibes
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unless you're/they're over the $250k fdic limit individually, the biggest immediate issue is that the bank might cease operating and it will take time to get a payout. so try to keep back up funds secured at some other bank just in case, especially if it's gonna hit your whole circle all at once if it does go sideways.