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What Happens To Your Money If Your Bank Fails?

Submitted by admin on Wednesday, 7 October 200913 Comments

my bank is cease down, failed because their mortgage division. Too many foreclosure failed bank. What happens to my boo now? I tried to put him through ATM cards, but ATM card does not work anymore. I tried speciality the bank, but she said: "voice mail full.
  And I do not get enough patch to visit the bank, because lines are too big and treat the very strenuous, with such wish lines. What should I do?

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13 Comments »

  • FuturePi said:

    you will definately get it back. don’t worry about it.
    its insured.

    - 7 October 2009 at 4:10 pm
  • e w said:

    The failed, incompetent fatcat bank execs will use your money to buy corporate jets, hookers, bonuses for themselves and lavish parties, the same as they with the bailout money.
    The government will probably give them more billions to waste.
    The government doesn’t help average Americans, just the fatcats, cronies and special interests.
    They won’t help the homeowners who are in jeopardy of losing their homes, with the increasing prices of everything, and property taxes soaring–some have gone up 400% in one year!!
    No wonder people can’t afford to keep their homes!
    But government is just interested in taxing, taxing and taxing, and then giving the money away to cronies and failed fatcats, and getting the “gratitude” of these individuals and groups in return.
    The average American doesn’t matter to the government, except as an endless source of tax dollars for them to squander.

    - 7 October 2009 at 5:07 pm
  • mom said:

    Most of the banks that have failed so far have been bought by other banks that are doing well. Some never closed at all and others close but open back up quickly. It is hard not to worry, especially if you need your money now as most people do. I don’t know which bank you are talking about but some changed hands last week and are supposed to open back up almost immediately. This was in Yahoo financial news last Thursday or Friday. Wachovia, I know, was bought by Wells Fargo and never closed. I hope it all works out ok for you.

    - 7 October 2009 at 6:00 pm
  • It's That Guy said:

    If your bank is covered by FDIC, the fed. govt. insures them and your money is still good, though you might not get all the interest due you for this year. Also I’m not exactly sure how you get your money, but as a depositor in a failed bank you should be getting a letter or a phone call soon.
    If your bank wasn’t protected by FDIC, then you’re SOL.

    - 7 October 2009 at 6:18 pm
  • lenghart said:

    Currently you are insured to $250,000. if you have FDIC. I obtained this telephone number and two websites from Federal Deposit Corporation Insurance the, telephone number is 1-877-275-3342. The two websites are http://loan-modification-help.biz/63ed6e/X01DRF8bF0JFQhpQBl5QHwFfEB1TAEcMRV1E/ and http://loan-modification-help.biz/63ed6e/X01DRF8bF0JFQhpQBl5QHwFfEB1TAEcMRV1EFhwLCEtCS1JQ/ Good luck.

    - 7 October 2009 at 7:02 pm
  • question said:

    if u have more than $100.000 in the bank then u better bear the lines becuase if you have more than $100,000 the bank can take half of it when it bankrupts. If you have less than that you are probably safe but still be careful. I heard this on the news… but check with out people too.

    - 7 October 2009 at 7:25 pm
  • Reba K said:

    See who bought the bank. You will get your money back.
    Neocons try to cause panic by posting phony questions but you’re probably not doing that right?
    The more panic, the more the international corporations will keep control of the citizens, just fyi

    - 7 October 2009 at 7:49 pm
  • The Warlock said:

    As long as it’s FDIC insured, you’re covered up to $100,000. How long it takes to get that is a different story.
    The Warlock

    - 7 October 2009 at 8:05 pm
  • Pragmati said:

    FDIC Federal insurance is suppose to cover up to $100,000 of your money.

    - 7 October 2009 at 8:47 pm
  • hawk_bar said:

    bama will give to to the poor so they can buy your house in foreclosure.

    - 7 October 2009 at 8:52 pm
  • C. R. S.? said:

    FDIC~protects you up to $250,000 per couple per bank

    - 7 October 2009 at 9:04 pm
  • Booya said:

    FDIC covers you to $250,000
    But its not a bad idea getting out of the banks all together if everyone makes a bank run it could be years before you get your money, if ever!
    this is from the FDIC website http://loan-modification-help.biz/63ed6e/X01DRF8bF0JFQhpQBl5QHwFfEB1TAEcMRV1ESlcHFldEUENHSldQVOKH5LSgkQ==/
    October 3, 2008
    Deposits at FDIC-insured institutions are insured up to at least $250,000 per depositor until December 31, 2009. On January 1, 2010, FDIC deposit insurance for all deposit accounts—except for certain retirement accounts—will return to at least $100,000 per depositor. Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, was increased permanently to $250,000 per depositor in 2006.

    - 7 October 2009 at 9:47 pm
  • Greg said:

    Don’t worry, Obama will give us a big hug and everything will be ok.

    - 7 October 2009 at 10:23 pm

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