For people thinking their deposits are safe if they are below the #FDIC $250k limit...
You might get your money back, but are you prepared to wait for months or years before you have access to it again?
I had life savings in a bank in Europe in 2008 (IceSave) that was covered by the UK's version of FDIC, the FSCS. I felt safe. But when the bank ceased to function, I didn't get my money back from the FSCS for more than 2 years.
BTW, I also had to provide bank statements to prove to the FSCS that I had savings at the bank - good luck with that if it's a web based bank and their website "goes down". So I hope you're keeping records on your own computer and not just leaving them on your bank's website ;)
OneBigLife / One₿igLife
npub1dv…zypmm
2023-03-14 12:11:43
Author Public Key
npub1dvnf7m37lqws7edyk2n4ve5wczg75xyxl4f37w7q9452chxtts9q9zypmmPublished at
2023-03-14 12:11:43Event JSON
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"content": "For people thinking their deposits are safe if they are below the #FDIC $250k limit...\n\nYou might get your money back, but are you prepared to wait for months or years before you have access to it again?\n\nI had life savings in a bank in Europe in 2008 (IceSave) that was covered by the UK's version of FDIC, the FSCS. I felt safe. But when the bank ceased to function, I didn't get my money back from the FSCS for more than 2 years.\n\nBTW, I also had to provide bank statements to prove to the FSCS that I had savings at the bank - good luck with that if it's a web based bank and their website \"goes down\". So I hope you're keeping records on your own computer and not just leaving them on your bank's website ;)",
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