“If you put $250,000 in four banks that are FDIC insured, is all the money safe from failures?”
From what I understand, with even 250,000 in one bank, the insurance is a scam. Yes you will get money if your lucky. But you will get it over the next 50 years or so. Big frigen deal. I’m a septuagenerian. Even if you were 35 you’d likely be dead by the time it was due.
This is my understanding... if anyone can confirm this jump in.
I guess we will have a chance to see how this plays out with the Silicon Valley bank customers. Whether or not they get the money promptly... or not.
FDIC insurance will get you your $250K or less quickly.
Here is the information from their web site:
https://www.fdic.gov/consumers/consumer/news/cnfall14/misconceptions.html