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.
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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.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?
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.
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.