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If you keep your money in an FDIC-insured bank how much of your money is insured?
Wiki User
∙ 11y ago
up to 250 thousand dollars is insured in all banks
Wiki User
∙ 11y ago
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where can we transfer our money to keep it safe in a safe savings accoung?
Make sure the bank you have your money in is FDIC insured. If so, your money is safe up to $100,000.00.
Should the current economic crisis make you better off having your money as cash or in the bank?
That depends on whether or not you feel your money is safe in the bank. Remember, all money in bank deposits is insured up to $250,000. That means that even if your bank fails, you do not lose any money (unless you have over $250,000). No one has ever lost money that was insured by this program. Most would advise to keep money in the bank and let it earn interest rather than keep it in cash. The reason is simple: If you hide it in your house, what if your house burns down? If you carry it around, what if you get mugged or lose your wallet? If you bury it in the backyard, what if you forget where you buried it? Basically, it is less risky to keep it in a bank even if that bank has a risk of failure rather than trying to safeguard it yourself.
Where does a bank keep money?
Banks keep their money in safe vaults. A portion of their money is deposited with the central bank of the nation too.
Are you allowed to keep a lot of money at home?
You can keep a lot of money at home if you want to. As long as you have legally earned money, you do not have to keep it in a bank. It may be safer in a bank but you can keep it in your home.
Why do you receive interest on money that you keep in the bank?
The bank is paying you (compensating you) for the use of your money. When you borrow money from the bank, you pay them interest.
Where do pigs keep their money?
They have their own bank.
What do bankers use spreadsheets for?
To keep track of how much money someone has in their bank account. To keep track of how much money someone has in their bank account.
How do you use the word bank in sentence?
A bank is the safest place to keep your money.
Where did the river keep all its money?
At the river bank
What is a bank of fish?
A place where fish keep their money.
What is a good place to keep money besides a walet?
money box or a bank.
What does an accountant do in a bank?
He has to count everybodys money in the bank and keep an record on how much they spend.
