Since the Silicon Valley Bank implosion, a lot of people have begun to wonder if their money is truly safe in banks. Fortunately, there are systems in place to ensure bank failure doesn’t lead to the types of personal catastrophes we saw during the Great Depression.
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Banks and credit unions have a fair amount in common. But they’re anything but interchangeable. Each has strengths and weaknesses you need to understand before you choose.
Have you ever wondered what banks do with all the money you and others give them? The short answer is pretty simple and probably not too surprising: Banks mostly use your money to make more money for themselves. But there’s more to that story.
As of the end of 2021, there were 4,844 insured commercial banks in the United States. We break these down by state and explain how this number got to where it is today.
For many, Silicon Valley Bank’s sudden failure dredged up uneasy memories of the late-2000s financial crisis, when the world’s biggest banks teetered on the brink of implosion and ordinary people worried whether their money was safe. There was no full-blown financial crisis this time. But it did rekindle debate about where to draw the line. Is it time to rethink what “too big to fail” should mean?
You put your money in the bank because it’s safer there than under your mattress. But what happens when recession looms and depositors get anxious? Is your money safe in the bank during a recession, and will you be able to get your money out when you need it? Learn why the short answer is yes.
People still get paid in cash for all sorts of reasons. That raises the question: How do you get hard currency into your bank account for safekeeping? Learn your options for depositing cash in a bank account, which can depend on how soon you need the money and where the account is located.
When your belongings are locked up in a box at the bank, you can only access them when the bank is open — which is a big problem for papers you might need to access in an emergency. And there are some physical valuables that, for one reason or another, are best stored elsewhere. So if you have a safe deposit box, here’s a rundown of what’s best to store and not to store in it. And if you don’t, here are some of the items that might make you consider getting one.
Until about five years ago, I used to carry my checkbook everywhere. In fact, some of my purses even had a special compartment that provided easy access to my oft-used pad of checks. Nowadays, however, I leave my checkbook at home. In fact, I can’t remember the last time I wrote a paper check. This change
High limit credit cards can be a valuable tool if used responsibly. Use these cards to maximize rewards when making an expensive purchase. Credit cards are a great tool to keep in your wallet — as long as you don’t max out your limit. And this is where high limit cards can come in! Any
Have you ever wondered what the history and the parts of a credit card are? How did they get started, and what constitutes a credit card? This article will discuss the history and anatomy of a credit card: what are all the numbers and magnetic bits, and why are they there? We’ll also discuss how
