do you believe in bank?

February 9, 2010 3:30pm CST
hi everybody..i was reading that it's not a good financial time..what do you think about it?do you still believe in bank?o you are going to get some others ways to manage your money?
8 responses
• India
9 Aug 11
I believe in banks. Because now-a-days banks are major financial asset to our country. It is difficult for financial transaction with out banks. Bank will give money when ever we want financial support. Banks are also one of the safest locker for our valuable ornaments.
@kingparker (9698)
• United States
20 Jul 11
Although it is not a good time to invest your money, you still need a bank to put the money in there. Otherwise, where would you deposit your money at. It is the safest place as long as there is FDIC insured. I hope that you will understand it.
@reckon21 (3487)
• Philippines
17 Apr 10
There are some big banks that will be hard to go bankrupt anytime. So we really have to choose those who are credible and can be trusted and has been operating for quite a long time already. I think bank is still one of the safest place to save your hard earned money. My parents have been saving money in the bank for longer time than I can remember. they are the one who teach me to save money on the bank since I am young. Definitely bank is still reliable and can be trusted nowadays.
• United States
17 Apr 10
i think that the only way to keep your money safe is to keep it in the bank. so yes i do believe in having a bank account to keep the money in a safe place. although i do not always use the bank to keep my money in.
@dksemke (66)
• United States
6 Mar 10
Putting your money in the bank is better than sticking in your mattress, but doesn't pay much more than that. A savings account or money market can be less than one percent and we are talking 3 or better percent inflation? CD's and tax free Muni Bonds have also come down= CD's around 1% and Muni's around 3%. But you do need to make your money work for you and may need a savings account just to get up to the minimum starting amount to open certain types of accounts. The best place for beginner investers is in Mutual Funds. Do some research and learn about how they work. You have to be an educated investor. Bond Funds are also good now and very safe. With funds you have the ability to start small and add to the account monthly. We need Banks still for some things, like our debit cards. Does anyone write checks anymore? So you still need the bank, just not as your primary investment institution!
@mylosha (286)
• India
11 Feb 10
actually banking system has evolved primarily to keep our money safe. without banking system no any country have a healthy economy. But now a days several hurdles may be faced by the banks around the world in the means of inflation and robbery forgery illegal money transfer as technological revolution though they give assurance to for money so banks are forever believing system for multimilinor to the people who are at BPL.
@tonyllenium (6265)
• Italy
11 Feb 10
i never believed in bank honesty but you know in many cases it is dangarous to invest in some alteranative way so bank can have all the market from this point of view..i just pay attention about it because surely they never think about your interests but to the bank ones!!
• India
10 Feb 10
In any country, the Banks are controlled by the Central Bank of that Country.So, your money at any point of time is safe except in an extraordinary situations that is beyond the control of central Bank. But ,in India, it is more safe because the Banking regulation are very much controlled. Lending also very streamlined. There are people do not take any loan from the Bank and they only make deposit. Lot of measure are taken by Indian Bank.Lot of check are made before lending. Very minimum failure in Indian Bank recovery system.So the Bank are safe in India.