Results 1 to 8 of 8

Thread: What happens when a bank collapses?

  1. What happens when a bank collapses?

    I heard on tv that 14 US banks closed. What usually happens in that case?

    I guess most, or all were purchased by other companies, or nationalized by the government, but do people who had accounts in those banks lose their money, or part of it, or they'd lose nothing in such case?

  2. In the U.S., the FDIC normally insures all bank deposits up to $100,000. Congress has temporarily raised that amount to $250,000.

    Depositors can check the status of their failed banks at Is My Account Fully Insured?
    Submit Your Webmaster Related Sites to the NB Directory
    I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.

  3. So if an average person had an account with say a few thousand dollars, would that involve a long waiting process to get the moneys back and credit cards etc tied to the acc working, or should just continue uninterrupted as normal?

  4. From what I have heard, the wait is 1-3 days.
    Submit Your Webmaster Related Sites to the NB Directory
    I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.

  5. Nice, so people's moneys are secured

  6. In the past, the U.S. has had problems with "runs on banks". This is when confidence sags and everyone tries to get their money out of the bank at the same time. Banks don't have everyone's money in cash -- they have everyone's money loaned out to other customers. The people who couldn't get their money became angry and sometimes violent.

    The government's solution was to set up the FDIC as a banking insurance corporation. As far as government programs go, it's been a major success. The FDIC charges banks for this service, so it's not a drain on the taxpayers. That may have changed with the recently bump from $100k to $250k -- the money to pay for that has to come from somewhere.
    Submit Your Webmaster Related Sites to the NB Directory
    I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.

  7. #7
    What happens when a bank collapses? It triggers collapse of other banks (if they are not ready for the situation).
    Need some time to handle deferred joining date by three big IT companies.

    If your work is still pending, I'll soon get in touch.

  8. #8
    Yeah generally FDIC banks would not affect you much unless you're holding out some lottery winnings...

    If it's like PayPal however which isn't insured all your money is gone and that's it.

    So if PayPal goes under (which it most likely won't cause it's too big and has eBay but you never know), we're all screwed.
    Webmaster Forums
    Host Mist | Shared | Reseller | VPS | Dedicated
    Arcade Master - Rule the arcade!

Similar Threads

  1. I would like to know how to become a better seller on Click Bank.?
    By imported_whitey99 in forum Affiliate Marketing
    Replies: 3
    Last Post: 14 May, 2010, 15:54 PM
  2. What is click bank. How can I order something via click bank?
    By moonpeach in forum Affiliate Marketing
    Replies: 4
    Last Post: 28 August, 2009, 13:06 PM
  3. CLICK bank or EPN which one do you think better
    By ahmedgg in forum Affiliate Marketing
    Replies: 0
    Last Post: 19 August, 2009, 12:08 PM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •