In the midst of the issue of three major banks in the United States experiencing bankruptcy, I think it's natural to ask the op "Is it safe to keep your money in the bank?". All Bank have regulation for protecting their costumer funds and seems when bank faced bankrupt seems they don't have enough fund how to refund for their costumer.
I don't sure safe money in the Bank keep securing due what happen with three bigger Bank in United State get bankrupt and what happen with costumer money, does get refund back or not? Better save assets with stable cryptocurrency coins and we have controlling by own self about our money without hold in the bank due anticipation if Bank got bankrupt.
Topic: Is it safe to keep your money in bank? - page 14. (Read 2573 times)
~
if a bank is officially registered and has an operational license from the government, usually if the bank is going bankrupt then the government's operational license will be revoked. and customer balances will still be replaced in accordance with applicable regulations, (according to Bank rules). and you don't need to worry if the bank goes bankrupt, the balance will be replaced again
if a bank is officially registered and has an operational license from the government, usually if the bank is going bankrupt then the government's operational license will be revoked. and customer balances will still be replaced in accordance with applicable regulations, (according to Bank rules). and you don't need to worry if the bank goes bankrupt, the balance will be replaced again
So the security of your money in the bank all depends on country to country and their banking rules and how strong is their economy. You cannot fail all the time and expect everything will be alright at the end of it and no government can save them all the time. The sole reason why cryptocurrency markets started to rally is because US banks started to fail left and right and people are not sure how many will be falling.
True, every bank in several countries has different regulations for their customers. if in our country Indonesia the rules of the bank towards its customers as I have mentioned, the point is that the bank that has an operational permit from the local government will be responsible for their customers for the bankruptcy experienced by the bank.
Question to your FMCPAY, how will you compensate your user if ever their funds were stolen under your protection?
according to what I know that saving money in a bank has strong and guaranteed security, but by saving money in a bank there will be no added value if only a little money is saved. but if your money has a large value then the interest rate you get is also large. only the security is very strong to keep money in the bank
You are correct that saving money in a bank provides strong and guaranteed security for your funds. In most countries, banks are insured by a government agency, such as the Federal Deposit Insurance Corporation (FDIC) in the United States, which guarantees deposits up to a certain amount. This means that if the bank were to fail, your deposits would be protected up to the insured limit 
I think the safest place to store it is in your own assets, such as gold, land, property, and others.
saving in bitcoin stocks or the like is also safe but there is a risk of decreasing value when the market for each of these commodities falls.
saving in bitcoin stocks or the like is also safe but there is a risk of decreasing value when the market for each of these commodities falls.
if one bank collapsing doesn't mean the rest will do the same, there's reason why these banks are collapsing one of them are really bad decision making in which causes them to lose money. if you are willing to properly learn about what's happening these banks are losing money because they've got high risk lending programs in which many of them are collapsing, so it is still safe keeping money in bank and your money aren't gonna vanish out of nowhere.
The reason most banks are not collapsing is because the governments have once again ratified their policy to save banks no matter the costs and that at least for now the panic has subsided.But make no mistake, banks have very deep connections with each other and a single bank collapsing can create a domino effect which could make tens or even hundreds of banks to collapse, and anyone reading this must know those risks are very real and we encounter them roughly every 10 to 15 years, so it is not like this a very rare event or anything like that.
if one bank collapsing doesn't mean the rest will do the same, there's reason why these banks are collapsing one of them are really bad decision making in which causes them to lose money. if you are willing to properly learn about what's happening these banks are losing money because they've got high risk lending programs in which many of them are collapsing, so it is still safe keeping money in bank and your money aren't gonna vanish out of nowhere.
according to what I know that saving money in a bank has strong and guaranteed security, but by saving money in a bank there will be no added value if only a little money is saved. but if your money has a large value then the interest rate you get is also large. only the security is very strong to keep money in the bank
Regulators are making our money become even more safer than crypto. If your money got stolen and you will have guaranteed if you can get back your money again. If you are also got scammed and it can be processed in the police unlike crypto when you are getting scammed and you will not able to get back your money and even though if you are making a report to the police and they will not processing it. Bank is much safer than crypto. If only 1 banks was collapse and this is also happening once since a long time ago unlike crypto when there are bunch of exchange sites down in a year
honestly bank is safe enough, there are many insurance protecting your money, moreover government usually take care of these banks, it's just that some of them collapsing and that's normal I guess considering that happens every quite a while.
We know that bank crisis is something that rare to happen which is eventually happening as of this moment and this is one of the risks when you are trusting up banks but of course this had been existing for how many millenia on which these institutions are heavily regulated and been supported.This is why most of us would really be seeing these things to be a safe spot when it comes on saving up our money.There are really just those people who are really that trusting up banks and there are ones who do want to like on testing out other venture which they do know that it could
really make out them more opportunity on making income or profits and somewhat trying to touch up new things.
honestly bank is safe enough, there are many insurance protecting your money, moreover government usually take care of these banks, it's just that some of them collapsing and that's normal I guess considering that happens every quite a while.
according to what I know that saving money in a bank has strong and guaranteed security, but by saving money in a bank there will be no added value if only a little money is saved. but if your money has a large value then the interest rate you get is also large. only the security is very strong to keep money in the bank
It's only getting regulation support that keeps the money safe. The problem is you must also be aware of the case of silicon valley bank. It gets bankrupt and users are losing their money. The interest is not as big as crypto but to be honest, even though you are seeking a big interest in crypto and it's likely any service that offered a big interest in crypto was just scam. We can also talk about how profitable the business is in the crypto and how much money was raised from selling the product to be used as an interest to the token holders?
There will be no way for you to get money instantly, especially from the interest rate. The fact that if it's not security caused by your money in the bank has the same risk with altcoins to lose any time.
The regulation just gives it more guarantee compared with altcoin caused by you get back up by the regulators which have access to everything.
THat's the different between those things. The regulation that backed it makes it become even much more safer
Why FMCPAY is a safe place to store your funds?
FMCPAY Exchange takes security seriously and has put in place a number of safeguards to protect your payments and personal information:
You're not different from the other centralized exchanges that have been said that people should be keeping away their funds. I'm not detering people to do that in your exchange.FMCPAY Exchange takes security seriously and has put in place a number of safeguards to protect your payments and personal information:
- Two-factor authentication
- KYC
- Email verification
But I doubt it that you're giving the private keys for every wallet and crypto that you're supporting and that makes no difference from exchanges that are not providing those details because they're centralized.
2FA is good and additional security but that even if someone provides KYC, it doesn't make sense about having additional layer of security when it's being bypassed by an hacker.
There are no safe places to keep money. In fact, the money isnt supposed to be kept anywhere. They should always work. They should always be in circulation.
I disagree. There has to be a safety cushion and free money that can be used for sudden problems or to secure those current working schemes where your funds are involved. This is the reason why many people can't take the chance to buy cheaper coins when the market suddenly crashes, because they don't have free money available, they are all involved in some projects. This way good earning opportunities are missed. Free money should always be present.
It is true that person should always have a money pillow for emergency situation, but that amount is often not very large. People dont usually keep their annual salary amount as a money pillow. With my post I did not mean that every single penny must be invested, spend or be in circulation. That I should keep my pocket wallet empty and have zero on back account. But having thousand or ten thousands on bank account, in safe box at home or have a case full of cash buried for a "rainy day" isnt right. I think you do know the proverb "you can't take your money into the grave".
~
if a bank is officially registered and has an operational license from the government, usually if the bank is going bankrupt then the government's operational license will be revoked. and customer balances will still be replaced in accordance with applicable regulations, (according to Bank rules). and you don't need to worry if the bank goes bankrupt, the balance will be replaced again
The way US is doing right now, they are giving incentives to the bankers to experiment fail and the government will eventually print money and rescue them without any repercussions, but the fact remains that how long they will be able to do that by printing money out of thin air and finally inflation kicks in and the currency that is held will be no longer valuable. if a bank is officially registered and has an operational license from the government, usually if the bank is going bankrupt then the government's operational license will be revoked. and customer balances will still be replaced in accordance with applicable regulations, (according to Bank rules). and you don't need to worry if the bank goes bankrupt, the balance will be replaced again
So the security of your money in the bank all depends on country to country and their banking rules and how strong is their economy. You cannot fail all the time and expect everything will be alright at the end of it and no government can save them all the time. The sole reason why cryptocurrency markets started to rally is because US banks started to fail left and right and people are not sure how many will be falling.
in our country almost all banks have a proud track record, and in my opinion almost all customers are satisfied with the bank's services. Therefore, I think that in our country the safest place to save money is a bank.
but it's a little different from me, for me it's better to use the money for me to invest than having to keep it in the bank. the investment I mean is in the form of crypto that promises to have a profit.
but it's a little different from me, for me it's better to use the money for me to invest than having to keep it in the bank. the investment I mean is in the form of crypto that promises to have a profit.
A person feels safe keeping his money in a bank because there is no other place he can trust to keep it for a long time other than in a bank. After all, the Bank is a company that gets government supervision, people will feel safe with that. The consideration is, what happen if the bank is bankrupt? can we still withdraw our money? maybe, there are not many cases of bankruptcies, but anticipation must still be made. No matter how big or good the bank is, we must remain vigilant about it.
Yes, it's true like your statement where we need to be wary of a bank that has our deposit balance in it. at least look for or know information related to the bank. if a bank is officially registered and has an operational license from the government, usually if the bank is going bankrupt then the government's operational license will be revoked. and customer balances will still be replaced in accordance with applicable regulations, (according to Bank rules). and you don't need to worry if the bank goes bankrupt, the balance will be replaced again
according to what I know that saving money in a bank has strong and guaranteed security, but by saving money in a bank there will be no added value if only a little money is saved. but if your money has a large value then the interest rate you get is also large. only the security is very strong to keep money in the bank
To summarize, while the recent occurrences involving Silvergate, Silicon Valley Bank, and Signature Bank are worrisome, they are not reflective of the banking sector as a whole. Banks are subject to stringent laws and security requirements aimed to protect consumer assets. But, there is always the possibility of loss or theft, so it is critical to select a reputable bank and examine various types of investing to diversify your portfolio, like converting your assets into crypto and securing your funds in a crypto exchange.
It's never safe to keep your money in banks or centralized cryptocurrency exchange. Both the banks and the exchange are no difference from each other. They both can get compromised very easily.
Always store you money in a way you'll be incharge of the money at all time, with cryptocurrency you can use stablecoin that are well established and store the money in your private wallet.
Same thing can be down with cryptocurrency that you own, been incharge of your coins is far more safer than any banks or cryptocurrency exchange like Binance, it could collapse at any given time.
All banks are not silicon valley just so you know, and reputable or not, anything can happen. If reputation was to play a role here, silicon valley imo should be considered as one since only notable companies own assets there. I think this just goes to show that no company is above a security breach.
Choosing a reputable bank is good but when something is bound to go wrong it can't be stopped, and reputation won't do much to prevent it from happening.
I agree. although when depositing money in the bank it will be guaranteed but not absolute. Traditional financial solutions all have potential overall objective or subjective risks. The case occurred from the banks of America as proof. It is not all cases will bear the risk but we also need to be cautious when choosing banks to deposit money. There will certainly not be a complete collapse of banks but being cautious and identifying risks is a good way to preserve money.Choosing a reputable bank is good but when something is bound to go wrong it can't be stopped, and reputation won't do much to prevent it from happening.
There are no safe places to keep money. In fact, the money isnt supposed to be kept anywhere. They should always work. They should always be in circulation.
I disagree. There has to be a safety cushion and free money that can be used for sudden problems or to secure those current working schemes where your funds are involved. This is the reason why many people can't take the chance to buy cheaper coins when the market suddenly crashes, because they don't have free money available, they are all involved in some projects. This way good earning opportunities are missed. Free money should always be present.
Only keep your money where you can accept the risk.
And if the bank is a safe place for you, you can keep your money in the bank; if not, you need to think of another place.
For now, maybe banks are still one of the safe places to keep money, especially in several countries that have not been too badly affected by inflation.
But when inflation starts to get worse, there is a possibility that the banks will also have problems and we could also be affected by the problem.
So we must be careful in choosing a place to save money because it is related to our future so that we can survive later.
And if the bank is a safe place for you, you can keep your money in the bank; if not, you need to think of another place.
For now, maybe banks are still one of the safe places to keep money, especially in several countries that have not been too badly affected by inflation.
But when inflation starts to get worse, there is a possibility that the banks will also have problems and we could also be affected by the problem.
So we must be careful in choosing a place to save money because it is related to our future so that we can survive later.
Jump to: