8 Safest Banks To Bank With In The US (banks to keep your money in during a financial crisis)

Рет қаралды 874,072

Жыл бұрын

Our personal list of the top 8 "safest" banks to bank within the US & why. Here's what I'll be covering in today's video:
- The four different types of “banks” our supersaver community uses
- Some of the key ways industry analysts determine the “health” of a bank &
- How & why we chose these 8 banks to keep your money during a financial crisis
- Which bank we moved our business & personal accounts to this week &
- What is a G-SIB (global systemically important bank), how is a G-SIB different than Silicon Valley Bank & why might a G-SIB be safer than a non-GSIB/ bank like SVB?
Plus a bonus safe tip #9 at the very end for those of you who are still concerned about the state of the banking industry at the moment.
SOURCES:
www.fsb.org/wp-content/upload...
fortune.com/2023/03/10/silico...
www.federalreserve.gov/releas...
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Пікірлер: 584

@DiamondNestEgg Жыл бұрын

📢 We've launched! Get 15% off our brand-new bond courses thru 11:59PM ET on 4/30/2024 for Financial Literacy Month - enter coupon code bondfans2024 at checkout - see links below for more details! ⭐ Bond Beginners (our foundational-level bond course): www.diamondnestegg.com/bond-beginners ⭐ Bond Masters (our intermediate-level bond course): www.diamondnestegg.com/bond-masters ⭐ Or get both & save $100: www.diamondnestegg.com/home#_paa2isucf ⭐ Join our super-supersaver membership for regular market updates & monthly live member Q&As 👉 kzfaq.info/love/nexoc6tvesvcCEzZhmI-Agjoin Thanks for visiting our personal finance channel! We hope this free content will help fast-track your financial journey! Everyone's financial journey is different. Please note that there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances.

@JC-li8kk Жыл бұрын

Are you still keeping most of your money in a brokerage? Are you going to continue to buy bonds or can you buy stocks & bonds with a Chase account? Would that be any safer than a Fidelity account?

@rickb2537 Жыл бұрын

@@JC-li8kk If Fidelity, Schwab, etc., start going under, it won't make ANY difference where you hold your assets. The system will collapse. Over and done.

@josejimenaz Жыл бұрын

Just put your money ina checking account or savings account the the irs doesn't touch it

@dw455 Жыл бұрын

Hi, I am a first time viewer and glad this was in my feed. Being a neophyte I am researching all that I can to become more informed about what’s going on and how to maneuver through it all. I have subscribed and look forward to more of your content. Thank you for sharing.

@buffycat4641 Жыл бұрын

Have you done a review of the safety on on-line banks yet? I looked but could not find one. I have been using ALLY off and on for some time, but with the economic environment want to be sure I am positioned as safely as I can while earning come interest income. Thanks

@sherryBLUE735 5 ай бұрын

I do not trust banks. We use a Credit Union. They are like family. We trust them.

@kenjohnson8510 3 ай бұрын

Amen

@barbarahess87 2 ай бұрын

Exactly!

@joycewright5386 2 ай бұрын

I know nothing about credit unions. Can you tell me why?

@bill6732 2 ай бұрын

My credit union is paying.05% loan rate 8%, I'm shopping.

@douggodfrey6521 2 ай бұрын

Still Favor My Piggy .

@savioursoul Жыл бұрын

Chase doesn’t pay any interest. Big banks are the WORST.

@rmp7400 2 ай бұрын

Chase has a long, shady history.... They, historically, have been profitable for themselves at any cost to others...

@garypinsker 2 ай бұрын

You need to put money in their brokerage account. I’m getting 4.5% now at chase.

@locks4 2 ай бұрын

@@garypinskerare you referring to the JP Morgan section?

@jbock8753 Ай бұрын

CDs pay okay

@davidtvedte1337 Жыл бұрын

I want to recommend that we support our small local "Banks". Make sure you are not over the FDIC limits. Also make sure you have liquid assets available from more than one "Bank". The big "Banks" already have a huge control of the "Banking" system. If too many people started emptying out their local "Bank" accounts, this run on the "Banks" would create unnecessary "Bank" failures.

@littlebitmckee8234 Жыл бұрын

My exact thought.

@Thisishard2333 Жыл бұрын

Left Chase when they got rid of all the tellers. These were people who lived in the neighborhood.Young kids working their way through college. People who knew customers names and cared.

@mel-in-portland Жыл бұрын

AGREE.

@valerieneal2747 Жыл бұрын

@@Thisishard2333 I DON'T BLAME YOU FOR DUMPING CHASE FOR THE REASONS YOU'VE GIVEN AND THEN SOME. THEY ARE AWFUL. AND IT'S MORE THAN HEARTBREAKING WHEN THEY TREAT THEIR EMPLOYEES BADLY.

@lawrencecarver4233 Жыл бұрын

Why would you trust the FDIC

@revenadawson3910 6 ай бұрын

I used to keep my money in Bank of America until they started with the $25 a month fee on a checking account with a lower balance. And then they started charging five dollars a month fee on a savings account with a low balance. I told my husband if I only had $300 in the checking account in six months if I never touched that money, the fees would eat that $300…that is when I closed that account.

@jtixtlan Ай бұрын

I had the misfortune of having to deal with Bank of America when I became the executor of my friend’s estate. I have never encountered such rotten customer service and dishonesty and F-ing up. I did everything required - I provided the death certificate and the “letters of administration” from the probate court proving I was the executor. They accepted the docs but still would not provide the information I needed to do my executor duties. They were literally abusive to try to cover their mistakes. With the help of an estate lawyer that cost me $12K out of my own pocket, I finally finished everything up and got Bank of America out of my life. At one point, I went to my own bank manager and asked for advice dealing with another bank’s estate department that was refusing to let me see the bank statements and he said, “Bank of America, right?” Keep in mind that if you use Bank of America and you die, their estate department may make your executor’s life a living hell for many months.

@tacocruiser4238 Жыл бұрын

If everyone moved their money from regional banks to the "g-sibs", our country would be in big trouble. The regional banks play a crucial role in the U.S. economy that the g-sibs can't replace.

@mel-in-portland Жыл бұрын

Agree.

@Iquey Жыл бұрын

Yup. I think the GSIBS act like they are unaccountable to the regular people. Local banks have connection to the community they operate in.

@Megan-ns8cu Жыл бұрын

Another impecable and informative video. You are on the roll, thanks for your dedication, Jennifer!

@TheNamche Жыл бұрын

The timing of your FDIC/SIPC series was eerily well timed. Thank you 👍🏻

@WillingNAbelVids Жыл бұрын

*Spaxx* is SIPC insured and Fidelity is huge - should be safe right?

@Jean-ni6of 5 ай бұрын

Dear Willing I will wait for a reply.@@WillingNAbelVids

@it1988a Жыл бұрын

Put any money you have under the mattress. It pays about the same rate of interest banks will pay you.

@1baddad315 Жыл бұрын

Wow! You are so awesome! I did a ton of research myself over the last 2 weeks, with a preference/bias towards supporting local and regional banks. Your research is so well structured and rational I will for sure take it into consideration. We are so fortunate to have you sharing your experience and knowledge with us!!! Thank you for all that you are doing!

@supersteve8305 Жыл бұрын

I really appreciate your channel. I was just wondering about this yesterday as I looked at the offers of CD on Schwab. I also love your charts you provide. I screen shoot them for further reference. Keep em coming.

@TheOnlyRedNeckGeek Жыл бұрын

The last straw in my relationship with Bank of America came when I went to my branch to get some answers from a person, face-to-face. The teller sat me down in front of her desk, picked up a phone, dialed a number, and handed me the receiver. I handed it back to her, walked out of the branch, and transferred my holdings later that week. That was several years ago, and I've been a happy Chase customer ever since.

@DiamondNestEgg Жыл бұрын

Thanks for sharing

@TheAuToMaTiC82 Жыл бұрын

I think it all depends on location and the quality of employees they're hiring at that location. In my town we have a Chase, Wells Fargo, and PNC and PNC has by far a better reputation than the other two. Chase is straight up telling people you can't even meet with a banker to ask a question without making an appointment two weeks out or more yet PNC will help you that day with the same issue.

@michaelburnside4947 Жыл бұрын

Chase is absolutely nothing special, they definitely have some security issues.

@mdavid2540 Жыл бұрын

I have been banking with Bank of America for the past 20 years. From Texas to Maryland. No problems encountered whatsoever. My credit score is above 800. Chase for the past several years keeps sending me mailers trying to convince me to transfer my account to Chase but I am not interested.

@mikemallimo9286 Жыл бұрын

15 plus years ago BOA reversed payment on a smaller check then a deposit then ran a bigger check, putting me in a negative then ran the deposit then the smaller check causing it to bounce too. The teller explained this to me step by step. I closed my account that day & never looked back

@TSidez Жыл бұрын

The flight to large banks for safety will lead to less competition and higher costs for depositors.

@gosteampunkdotcom 11 ай бұрын

Yep

@Baci302 5 ай бұрын

Seems logical.

@ctjmaughs 3 ай бұрын

It will not lead to higher costs for deposits

@bitrudder3792 2 ай бұрын

@@ctjmaughs- We will see. Things can change quickly when they change. Mexicans are bringing their money here because the Mexican government is charging people for having money in the bank on the pretext that they are keeping tabs on and “taxing” possible cartel money. I don’t know if it’s happening everywhere, but it’s happening at least in a few places. I have to pay three dollars a month for an account just to have a paper statement. No interest. Pretty sure they’re making good money off of our account.

@allthingsnu4673 Жыл бұрын

Thanks for the great content. I really needed to know this information but didn't realize it :).

@detch5307 11 ай бұрын

Excellent presentation! Beautifully structured, clear, concise, and informative. I never knew about G-SIPS. I just subscribed and I'm off to watch your videos on "Bail-Ins" and the "5 To-Dos". Thank you for the insight.

@nancyumass Жыл бұрын

You are so good at explaining very complex issues. I worry that taking your money out of local community banks will put them out of business when they would have survived if there was not a run on them. Think about which bank actually invests in your community as well as the points you raise. Thank you

@DiamondNestEgg Жыл бұрын

Thanks for sharing Nancy

@TL-cd8ev Жыл бұрын

👍

@jimk7964 Жыл бұрын

This content is legit - and rather apocalyptic. I'm VERY comfortable parking cash in my local bank's 4.5% money market account (FDIC-insured) vs. Chase at 0.02% APY.

@debamohapatra5403 Жыл бұрын

@MrFreddarama Жыл бұрын

Which local bank may I ask?

@ShelbyvsViper Жыл бұрын

@@MrFreddarama Probably the Bank of BS. Capital One in January was running a 4% CD rate.

@Thommadura 10 ай бұрын

That is fine as long as you keep your total of accounts bellow the FDIC Maximum - but if you have more than that in a bank - Local Banks are not safe. They are currently under water for lots of Mortgages they gave out below 4% and do not have enough money to protect themselves.

@terry_willis 9 ай бұрын

That Chase, et al, can offer 0.02% APY AND get away with it, shows how corrupt these giant banks are.

@yilingdong628 Жыл бұрын

Extremely helpful, thank you for hard work!

@glow1815 6 ай бұрын

First time watching banks video. Very informative! Thank you

@rogerrocco5211 Жыл бұрын

Thank you again for your powerful advice! You are an amazing resource for those who are interested in your expertise! Wow!

@ravichopra9761 Жыл бұрын

Thank you for teaching this. No where else this information is shared

@vickiebonano2092 Жыл бұрын

Thanks, Jennifer. Another wealth of information to ponder on. So many decisions...overwhelming.

@DiamondNestEgg Жыл бұрын

Hopefully I’ll have something out soon to make things a bit less overwhelming!

@ben-memes1 5 ай бұрын

Thank you so much for this video. It was very helpful and informative

@ts.3434 10 ай бұрын

Great information. Thank you so much. Please continue to inform us all with you wealth of financial wisdom. God bless you and your family

@garyviejogringo9486 Жыл бұрын

Thank you for your consistently responsible financial coverage. There are too many YT channels that are fear mongers. Thank you for being you.

@David_Arteman Жыл бұрын

Thanks, I appreciate the explanation of G-Sib banks.

@annsimkins5427 Жыл бұрын

Thank you. So helpful and clear!

@musiquemaquer Жыл бұрын

Very thorough and helpful. Thanks again.

@bambam0099 9 ай бұрын

Love your channel...thank you for the great informative videos!

@kersi-sandiego6036 Жыл бұрын

Excellent video. Succinct and sane. Thanks for a very helpful video..

@jt2portlandme654 Жыл бұрын

I just adore your style and knowledge!

@user-sb7qh2ol5l 9 ай бұрын

Thank you for the video, very informative. Take care.

@TaipanTex Жыл бұрын

I needed this video. I've never heard of G-SIBs before this. As it turns out I'm happy to know I've had my dough in the top G-SIB for years. And for years have thought about moving it, especially the past week. But now it's staying put where it is and I feel so much better knowing about G-SIBs. Thanks.

@fdr2275 Жыл бұрын

I haven't heard of G-SIBs either. But I knew from common sense that these national banks are just too big to fail. The government will have no choice but to bail them out.

@time2eat850 4 ай бұрын

Thank you so much for sharing your knowledge ❤

@LarryDickman1 Жыл бұрын

Nice well conveyed information about banks. I have been using Credit Unions since the Savings and Loan meltdown. They are the real community banks. I keep a couple of grand in small bills at home. After an ice storm knocked out power for a couple of weeks, cash was king. No electronic transactions could be made. Gas stations and stores had large back up generators. My cash came in handy. I ate well and could get fuel to get to my work in another of the county.

@raddastronaut Жыл бұрын

Absolutely right. This is exactly how I rank them and I didn’t know about the ratings site. Split your funds in multiple banks like chase BOA and some credit unions.

@alexadams1627 Жыл бұрын

Great information! Thanks again!

@flubberghosted2472 Жыл бұрын

This is amazing. Thank you, I subbed. 😃🙏💯💰

@heidibee501 Жыл бұрын

That was helpful as l have concerns about my bank at this time.

@user-ef7mi2gc3t 9 ай бұрын

Love your videos, thanks for what you r doing, subscribed.

@hrhsophiathefirst4060 Жыл бұрын

Great insight as always!

@marilynsimpson1236 Жыл бұрын

Great video rich with usable information 👌🏾🤑

@zinaidalevina4521 10 ай бұрын

Thank you for that valuable information.👍🏿

@numberoneduchess Жыл бұрын

If you really want to keep your money safe, use an investment bank. They won't finance tour next car, but you can have a checking and savings account that is totally safe, plus be able to occasionally purchase a few shares of your favorite company. I recommend Fidelity. It won't hurt to look into it.

@hectorr.corrales221 Жыл бұрын

Jennifer I really appreciate your work and I love your videos Would you please produce a video on how to read a bank statement report ❓

@BlueBeeMCMLXI Жыл бұрын

Good to see a SENSIBLE address on this topic - not panic. Thank you for your energy looking into this.

@luzbooth9895 Жыл бұрын

Jennifer thank yuo fantastic, and productive information❤

@user-ww6yg8zs6o Жыл бұрын

I love your videos. Videos always have lot useful information I didn't know. Looking forward to more videos. Thank you!

@veliromn Жыл бұрын

Thank you for your content! Love it! If I may ask you to make a video on floating rate notes vs other money market funds, like fdlxx, fdnxx etc

@connieschneider7392 9 ай бұрын

What about Leaman Brothers

@johnk6749 Жыл бұрын

JL, your content is great; you give us some very important information. Thanks to your info I bought a $10,000 i-bond in 12/21 and another one in 01/22. I now have a brokered-cd ladder at Fidelity and I'm looking at t-bills next. Thanks for all you do.

@DiamondNestEgg Жыл бұрын

Glad you’re enjoying the vids & good luck!

@VishalRaoOnYouTube 6 ай бұрын

Super important video! I learned that American Express (I'm interested in their HYSA) is a D-SIB and not a G-SIB. Please do a video on D-SIBs.

@MrJrnyfan Жыл бұрын

Enjoy your videos. Such a wealth of information! Thank you!!!!!!!!!!

@MrJrnyfan Жыл бұрын

I am a person that trust very little people. You have more than earned it already in two videos. Thank you

@user-nz4nt6ww8w Жыл бұрын

The best explanation of the bank, thanks.

@AmyZantzinger 3 ай бұрын

It's essential to choose a bank that prioritizes security, and these 8 options seem like solid choices for peace of mind!

@motorheaddave3981 Жыл бұрын

Thanks for the information! And I love that collection of Dudens on the bookshelves. 😀 Who remembers the days when if you opened a bank account you might get a free toaster?

@renee1503 Жыл бұрын

Thank you so much for sharing. Trying not to be frightened, however these are very uncertain times. ❤

@DiamondNestEgg Жыл бұрын

Glad you enjoyed the video

@easy10 4 ай бұрын

Banking with Fidelity, I've noticed direct deposits are available the day before they are due. The bank I used before, the deposits were available the day after they were due.

@shoofly529 Жыл бұрын

Thank you so much for this video (also 1st!).

@dodgerblue7381 10 ай бұрын

First off, I want to Thank You for your series on buying T Bills. I have now purchased 3 T Bills in my Roth account. I am considering buying T Bills from Treasury Direct as well. Just haven't done it yet. I doubt that I would ever consider a COI, No interest? That is exactly what I have in a COI. You might as well keep cash. Thanks again, you are awesome, and I wouldn't mind getting stuck behind you at a bank, (I'm not much for shopping though lol)

@BorisLikesBonds Жыл бұрын

Thanks for the insight on the G-SIBs! I noticed the PDF you linked to shows another bucket, Bucket 5. It is currently unoccupied. I wonder how close JPM Chase is that level or if it's even important. And congrats on transferring your accounts to JPM Chase! Jaime Dimon has seemingly made a fortress out of that bank. I've always admired him as CEO and business manager. Bank of America cleaned up well after the GFC and is good place to park your money too.

@liarunaway Ай бұрын

Hey there, I just discovered your channel. Thank you so much for putting your knowledge out there. Could you please make a video for bank accounts for foreigners who only work in the US for a couple of years (legally)? Until then I will binge-watch all your videos. Thanks again.

@vincentstouter449 10 ай бұрын

The issue with the largest banks is that their liability exceeds the capacity of FDIC assets. When these banks default there is uncertainty to the government’s ability to bail them out (the government itself is on the verge of failure). A smaller bank failure will quickly result in a bailout by the FDIC in order to maintain public confidence.

@sglenn6 5 ай бұрын

Thanks for the great video. Could you let me know how you would rank First Horizon Bank?

@robdigma8609 7 ай бұрын

Thank you. Awesome info. Do you have a list or a video on safest brokers, many of us use stock brokers to invest and park our money.

@mikesorensen1981 Жыл бұрын

I think it’s good to spread your money to different banks, big bank, local 👍

@jdprice3043 3 ай бұрын

THANK YOU FOR YOUR HELP

@IndiratempestST Жыл бұрын

Thanks for the info, what about D-Sibs? Are they also fairly safe?

@Movingfwd2024 Жыл бұрын

14,500 views In 8 hours, congrats, looking forward to your next one

@T18skyguy Жыл бұрын

Great video Jen, could you make a video on how we average folks can determine the health of a bank? What websites do we go to, what data do we look for etc thanks Don

@DiamondNestEgg Жыл бұрын

Noted!

@julienlevy2807 Жыл бұрын

Hello, like your video. How much in % do you have in cash vs T-Bill and I-bond? Do you also have a breakdown of your portfolio % stock % bond % annuity? and would like to know what you think about index vs MTF or stock picking?

@gejuarez4848 Жыл бұрын

Jennifer, Thanks for the very informative video. Aside from the balance sheet, what other reports are available to review the health of a credit union?

@DiamondNestEgg Жыл бұрын

You can download all their financials from EDGAR if they are publicly-traded

@itchypandaa Жыл бұрын

I'd love to see a video like this about credit unions :) I prefer non-profits

@gardensofthegods 6 ай бұрын

A lot of people seem to like Navy Federal Credit Union and you don't have to have been in the Navy yourself but as long as you have a blood relative like your father was in the military then you can get in

@gardensofthegods 6 ай бұрын

The problem is they don't have a lot of locations but once you do your initial banking with them and get set up with them then they give you a list and tell you where the local ATMs are a marriage can be anything from convenience stores and gas stations to drugstores near you

@414s4 5 ай бұрын

So you realize that they don’t pay any taxes, and that to not show a profit they just buy real estate and put up more branches. They certainly aren’t contributing their fair share in taxes, don’t get why someone thinks that’s great.

@robertgoodrich8953 5 ай бұрын

Don't wait on a video. Go to your closest FDIC insured Credit Union. They are all nonprofits, so you will be happy. Do a bit of research into the corporate behavior of the liars and thieves at the 3 big banks she lists: B of A, Wells Fargo and Chase. Stay away their profits are too high for what they charge for loans. And to our moderator, you should be ashamed of pushing these big banks. They exist for themselves, not the depositor or loan customer

@andyh4518 Жыл бұрын

Quite the conundrum for those who are really worried about their smaller bank failing, have no faith in the government, and are morally opposed to the too big to fail banks.

@OroborusFMA Жыл бұрын

As all my banks are FDIC and I don't have anything close to $250k in any single bank, this is all a tempest in a teapot to me. If capitalism is going to collapse it won't matter where my money is, I'll just be as poor as those poor souls who survive paycheck to paycheck with less than $1,000 in their personal checking.

@glgermain Жыл бұрын

All banks are insolvent and your deposits are worthless if the US government fails.

@AJP2565 Жыл бұрын

40 years of bashing the government for the masses has worked.

@hectorr.corrales221 Жыл бұрын

I currently have a lot of money in my local credit union Providian Credit Union here in Alameda being able to understand their bank cash flow statement would be great 👍

@weareallamericans7358 Жыл бұрын

Support your "local" Credit Unions. They invest locally and you get to keep the money away from the New York criminals 😀👍

@soundmoneystacker2787 Жыл бұрын

I have 2 credit unions absolutely love them

@juanbelt1 Жыл бұрын

Excellent video.

@TheMonicagal Жыл бұрын

Hi Jennifer, could you do a list of top 5 online only banks with good customer service. Savings rates are better with online banks. Thank you for everything!

@buffycat4641 Жыл бұрын

Agree, would love to see Jennifer's comments on online only banks.

@user-wn6vm4xh1o 8 ай бұрын

great video. thanks for your job. like

@karenskinner7799 Жыл бұрын

PNC is listed as a national bank by Investopedia and FDIC. Pretty sure they are now a national bank.

@dennisbronzo5711 11 күн бұрын

This is a good topic to stay on for future casts

@PamelaTurner-vu8ve 10 ай бұрын

Thank you 💰🕊

@Zues64 Жыл бұрын

another great video Jennifer! WRT to the C of I Treasury Direct option, i find that option no better than holding cold hard cash nearby. Indeed, holding some cash close by makes a lot of sense to me.

@DiamondNestEgg Жыл бұрын

Glad you enjoyed the video & thanks for sharing!

@mafarnsims Жыл бұрын

Agreed. I would rather put the cash in a safe deposit box. Are items in these boxes safe from a bankruptcy, do you know?

@Zues64 Жыл бұрын

my Google research suggests that your assets in a safety deposit box should a bank become insolvent are safe, but they could be held hostage for a period of time until the bank insolvency in bankruptcy is resolved with the FDIC. when the bank goes bankrupt, it ceases operations and the FDIC takes control of the assets.

@mafarnsims Жыл бұрын

@@Zues64 Thanks!

@johnclark9908 9 ай бұрын

Good information

@tiamariza7348 Жыл бұрын

Hi Jennifer, Thanks so much for sharing your expertise and knowledge with us. I have researched a lot of things because of you bringing awareness to the community. Is there a way that you can do a video on Credit Unions and where to find information about which one is safe? I stop using banks 10 years ago because credit unions offered higher rates for checking, money market and savings accounts.

@DiamondNestEgg Жыл бұрын

It's in the works as we speak

@valerieneal2747 Жыл бұрын

@@DiamondNestEgg THANK YOU FOR THE INFO YOU PROVIDE FOR US. IT'S SO NICE TO RECEIVE SOLID INFORMATION FROM ONE "IN THE KNOW".

@shirleyjgarland3576 Жыл бұрын

Thanks Jennifer!

@mrhood3977 Жыл бұрын

Your the best Thank you for explaining everything in a way that anyone can understand

@sukikom2259 11 ай бұрын

Thank you. 👍

@andreaguilar4552 Жыл бұрын

Thanks!

@carefulconsumer8682 11 ай бұрын

Chase, Wells Fargo, and Bank of America seems to have the most branches in Texas I notice. Like one branch every few miles. Then there's the Walmart bank (Wood Forest National Bank) which has great hours and very convenient. I don't know how "healthy" they are but it appears very convenient for a lot of people.

@fengshui2151 2 ай бұрын

not to worry too much if your relationship with any bank is within the USD250K guarantee through government FDIC insurance. kinda ironic that government or people’s money is the one used to guarantee the banking people from any possible adverse effects of shortcomings of banksters.

@joyceperez5505 2 ай бұрын

I USE WOODFOREST AND THEY HAVE BEEN A GREAT BANK. FOR. 10 YEARS NOW.

@robertshank7128 Жыл бұрын

Thank you very much much

@jaxjaxvang4910 Жыл бұрын

Thanks so much for a valuable video! How’s about Sterling Bank and Trust?

@DiamondNestEgg Жыл бұрын

You're welcome. Sterling is not a G-SIB.

@jaxjaxvang4910 Жыл бұрын

@@DiamondNestEggthanks for your response! Whats G-SIB?

@nelsonzacarias217 Жыл бұрын

Informative video. Thank you!👍

@AnnMitt Жыл бұрын

Can you speak on keeping cash in a money market account in a brokerage company like Fidelity?

@debstayblessed9549 Жыл бұрын

Do you have video on credit unions pros & cons. Thanks for this video excellent information.

@DiamondNestEgg Жыл бұрын

Stay tuned!

@shankarh6915 Жыл бұрын

Also, what about the money in equities etc at brokerages (invested cash in equities)? Stand-alone brokerages as in Charles Schwab or the ones attached to banks as Citi brokerage or BoA/Merrill?

@michaelminauro4180 Жыл бұрын

Good stuff

@FasterandFunnier Жыл бұрын

Hi, I enjoy your videos and sincerely appreciate your knowledge, what’s do you think is safer, in a brokerage account a money market fund with a NAV of one dollar backed 100% by US Treasury Bills, Bonds and Notes or a FDIC savings account at a bank (Even one of your 8 picks). The MMF is making 4.2% and the savings is making .45%.

@Nonyabiza 6 ай бұрын

Hello thank you for your insight 10 months ago now it seems that the big issue with banks is the big corporate commercial real estate loans that are coming due. Which apparently can just be walked away from. Do you have any information on this?

@katechen9458 Жыл бұрын

I have money in g-sibs bank already because it has a branch nearby (I even didn't know it is g-sibs bank. Thank you for the education). However, the rate is very low. So I still have most of my money with other FDIC-insured banks. If unfortunately, something happens, I still have money in the g-sibs bank to use until the FDIC gives my money back. I did that before the SVB bankrupt. Personally, I prefer to have 2 different banks/cards. If one bank card suddenly had some issues, which happened to me before during international traveling, and I still have another.

@DiamondNestEgg Жыл бұрын

Thanks for sharing

@Ggyoutube1 9 ай бұрын

I like PNC block from my home they give you up to 10 pm to make sure you have enough money in your checking account before they charge you overdraft fee.