Can You Trust Your Bank With Your Money?

[Nomad]

Recently, banks started collapsing in the UNited States. Maybe the depositors will lose their money (as the first priority will always be to return investors' money). Keeping a lot of money in banks will always come with a risk.

 

[Immilash]

There are many people who would have a much harder time trusting people with their money. However, a bank is a place where you could deposit your money because it is considered much safer as compared to other places. Moreover, banks are also registered and regulated by the government as well. So, would you trust your bank with your money?

Yes, but always know that banks also use your money and trade it, they do earn a considerable amount of money by trading the money you save up in their bank.

 

[Shigobad2020]

When it comes to money matter , nobody can be trusted except the owner of the money , there are times when bank will just deduct your money unnecessarily without reason ,

 

[Good-Person]

Unfortunately I don't think that we have any choice when it comes to keeping our money in bank because we can't keep our money at home. I saw someone who kept $2 Million in cash at home. It's not what I can do.

What are your thoughts about keeping money in a payment processor like PayPal? There are many people who prefer to keep their cash in an online payment processor as well.

 

[Heatman]

I also do not like PayPal that much and I am sure that many people are also frustrated with PayPal as it blocks accounts. However, many people have no option but to use it as it is the only option for many people.

The only problem I have with making use of PayPal is their nonsense of limiting user's account without any justification or good reason because they have done it to a lot of my friends and they ended up losing a lot of money to PayPal.

 

[Kennysplash]

There is actually a written agreement with the banks and me concerning my money that is there. It is well insured so anything that happens to it does not really concern me.

 

[Chibson]

I trust my bank to an extent but I think it is always important to necessary you do not have only one bank account. You need to have various bank accounts so that you will not have any kind of fear if anything happens to one.

 

[Robert90]

Banks do lend out the money that consumers deposit, even though they are often thought of as secure places to save your money. To decide whether to trust a bank, you must take a number of variables into account, including the bank's standing, financial soundness, and the type of your account.

 

[Shigobad2020]

Banks can be trusted with your money depending on the particular bank , some banks has been existing and running smoothly for a very long time , while some bank are private and can not be trusted with your money .