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Do you think putting your money in the Bank is the Safest way? email this discussion to a friend?

myLot reputation of 81/100. ajinomoto23 (689)   ranked 6 out of 14 in banks3 years ago

Where else should we put our money if not in the bank? Some lending activity in the Bank are not successful. Many loans becomes bad debts. Do you know if your bank is secure?

 
 
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tags:  money, banks, bank easy access, bank, people
 
1. myLot reputation of 73/100. Corvin (289)   3 years ago

I think its the safest way to keep your money. The Bank don't just use give loans to their clients. It's up to the client if they can secure the loan that was given.

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2. myLot reputation of 80/100. rosettaresearch (973)   3 years ago

If you live in the United States, banks are insured. Individual accounts are insured up to $100,000. This is because during the Depression, lots of little people lost all their life savings when the banks failed. Now, if banks fail because of bad loan decisions, the individual depositor will not lose their money. Banks are the safest place to put your money.

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3. myLot reputation of 98/100. mipen2006 (2450)   3 years ago

It depends on how much money you're refering to. If you have a lot to invest you should seek a financial adviser. I think a little in the bank for easy access is essential.

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4. myLot reputation of 61/100. suren2k6cse (2286)   3 years ago

i think putting money on ban will be a saving for the person. it will help the government on many ways.
if we put the money for a long time it will help us on very important aspects to escape from the problem.

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5. myLot reputation of 72/100. crescentcorp (121)   3 years ago

well, it really depends on how much money you're putting in.. i mean, if i have a million bucks i would definitely invest it in a profitable business that assures me of good profit or income rather than just staying at home and wait for my money in the bank gain a percentage interest...

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6. mudpie (60)   3 years ago

i think if it's not a lot, banks would still be safest way to keep you're money. the lowest the interest, the more secured you would be i think because they would be the commercial banks or development banks. but those with high rates would be more unpredictable, the rural banks, since that's mostly the first to go bankrupt. although all banks have insurance in them. up to Php250,000 here in the Philippines or around $5k.

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