Do you think our money is safe through banks?

Philippines
October 23, 2009 1:36am CST
i heard a lot of rumors that money will not be safe anymore even in banks..because banks are not circulated properly due to lots of loans, mortgage..and so on..many are predicted that the banks are not safe anymore and soon will be bankruptcy..in that way, we will not get our money ..so all your payoff is not worth it... do you think it will happen? if so, what can we do to avoid this? or if ever it happens, what will we do???? thanks
2 people like this
8 responses
@carrine (2749)
• Philippines
23 Oct 09
honestly it already happens now adays. and be sure that your money is in good hands, LOL MEtrobank.. kidding aside if you really want to save your money in the bank, choose the bank which can stand all thru out the years. not that bank who are just new and not that popular. because it will really close. my friend had an experienced of what you said.
• Philippines
24 Oct 09
really? what did u do? so im thinkinf of depositing in metrobank... they say that metrobank is pretty good but we cant say that for sure..as banks are unpredictable... so do u think it is wise to deposit every bank?!
1 person likes this
@carrine (2749)
• Philippines
24 Oct 09
not really. if you have that big money then invest it by buying a property. its very wise move to buy a property now. because it will appraise yearly.
1 person likes this
@ybong007 (6658)
• Philippines
23 Oct 09
If that is the case then it would be wise to deposit less than or an equal amount that's covered by insurance, that way you will still get your money when the bank goes bankrupt. Or better yet, just invest your money on real estate. Cheers!
• Philippines
23 Oct 09
investing in real estate is pretty hard... hehe... because it takes time and years to earn it... since in this time of crisis, people dont have money to buy real estate...you know.. they have to recover from disaasters and calamities...that's pretty dangerous.
@srganesh (6349)
• India
23 Oct 09
You need not be pessimistic to that extent.Banks know how to manage the money and they will not sow the money to each and every people.But it is the public or the riches who fails to keep up with the morals of returning the loans and sometimes the government gives more subsidies.Yet bankrupt happens here and there once in a while and we need not worry much about it.Cheers!
@Weizen (145)
• China
23 Oct 09
I think the money is safer than in our home ,after all the bank use the sepcial way to protect them. of course ,if you consider the breakup .i think you should put the money in the home, but I think the money in the bank could win some interet.
@getbrowser (1715)
• China
23 Oct 09
I am not sure. Perhaps you are right. But as far as I know, if money will not be safe anymore even in banks, then we will have no places to deposit money. With the downturn of the economics, we really meet the situation that some banks are going bankrupt for lack of support from governments. If we don't believe the banks anymore, perhaps what we can do is just to save money ourselves, which is really dangerous for most people who have no ability of protecting their money from being stolen. From where I stand, we should be careful to choose a reliable bank to save our money.
@fezman (260)
• Australia
23 Oct 09
yea, i have always worried about a bank stuff up, and how when they do, its always seems to be in their favour! before i met the missus, i used to take all my money out of the bank as soon as i got paid, then i would seperate it all over the place. i only do the bank thing now cause its usually all done over the net,
@Qaeyious (2362)
• United States
23 Oct 09
I do not know about the environment in Pakistan, but in the US I feel the need to investigate further into banks before I invest in them again, that I would never have thought to do before. Of course I will not invest in the banks that received the bailout package because of their carelessness with their mortgage policies - unless they pay me back for what I am going to have to pay for their mistakes - and the decision of our leaders to pay them billions of dollars to "correct the situation." Banks have been granting loans and mortgages for decades without problems. I haven't determined if the deregulation that happened here allowed enough ... (I want to call them criminals, but alas, they didn't break the law. Careless greedy people, taking advantage of the a large portion of the nation's population (and probably world's as well,)) I feel confident most money handlers are ethical and not go after the hottest scam investment scheme like the mortgage game a few played on a lot of people here. We just need to be careful choosing banks.
@codris (783)
• Italy
23 Oct 09
i don't know, maybe, but i don't have money in no banks, beacause i keep them on a count in our "poste" the post, the've a higher interest rate, so it's convenient for me. In this crisis i think is safer to keep our money in our houses, or in another places. the interest rate of banks is so low that it's not convenient to keep money there, with a rate of 0,5% or lower, only if you have as million of dollars you'll have a bit of money from the interest.