8 Safest Banks To Bank With In The US (banks to keep your money in during a financial crisis)

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Our personal list of the top 8 "safest" banks to bank within the US & why. Here's what I'll be covering in today's video:
- The four different types of “banks” our supersaver community uses
- Some of the key ways industry analysts determine the “health” of a bank &
- How & why we chose these 8 banks to keep your money during a financial crisis
- Which bank we moved our business & personal accounts to this week &
- What is a G-SIB (global systemically important bank), how is a G-SIB different than Silicon Valley Bank & why might a G-SIB be safer than a non-GSIB/ bank like SVB?
Plus a bonus safe tip #9 at the very end for those of you who are still concerned about the state of the banking industry at the moment.
SOURCES:
www.fsb.org/wp...
fortune.com/20...
www.federalres...
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Опубликовано:

30 сен 2024

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Комментарии : 620

@DiamondNestEgg Год назад

📢 We've launched! Get 15% off our brand-new bond courses thru 11:59PM ET on 4/30/2024 for Financial Literacy Month - enter coupon code bondfans2024 at checkout - see links below for more details! ⭐ Bond Beginners (our foundational-level bond course): www.diamondnestegg.com/bond-beginners ⭐ Bond Masters (our intermediate-level bond course): www.diamondnestegg.com/bond-masters ⭐ Or get both & save $100: www.diamondnestegg.com/home#_paa2isucf ⭐ Join our super-supersaver membership for regular market updates & monthly live member Q&As 👉 ru-vid.com/show-UCnexoc6tvesvcCEzZhmI-Agjoin Thanks for visiting our personal finance channel! We hope this free content will help fast-track your financial journey! Everyone's financial journey is different. Please note that there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances.

@JC-li8kk Год назад

Are you still keeping most of your money in a brokerage? Are you going to continue to buy bonds or can you buy stocks & bonds with a Chase account? Would that be any safer than a Fidelity account?

@rickb2537 Год назад

@@JC-li8kk If Fidelity, Schwab, etc., start going under, it won't make ANY difference where you hold your assets. The system will collapse. Over and done.

@josejimenaz Год назад

Just put your money ina checking account or savings account the the irs doesn't touch it

@dw455 Год назад

Hi, I am a first time viewer and glad this was in my feed. Being a neophyte I am researching all that I can to become more informed about what’s going on and how to maneuver through it all. I have subscribed and look forward to more of your content. Thank you for sharing.

@buffycat4641 Год назад

Have you done a review of the safety on on-line banks yet? I looked but could not find one. I have been using ALLY off and on for some time, but with the economic environment want to be sure I am positioned as safely as I can while earning come interest income. Thanks

@sherryBLUE735 7 месяцев назад

I do not trust banks. We use a Credit Union. They are like family. We trust them.

@kenjohnson8510 4 месяца назад

Amen

@barbarahess87 4 месяца назад

Exactly!

@joycewright5386 4 месяца назад

I know nothing about credit unions. Can you tell me why?

@bill6732 4 месяца назад

My credit union is paying.05% loan rate 8%, I'm shopping.

@douggodfrey6521 4 месяца назад

Still Favor My Piggy .

@Movingfwd2024 Год назад

14,500 views In 8 hours, congrats, looking forward to your next one

@savioursoul Год назад

Chase doesn’t pay any interest. Big banks are the WORST.

@rmp7400 4 месяца назад

Chase has a long, shady history.... They, historically, have been profitable for themselves at any cost to others...

@garypinsker 4 месяца назад

You need to put money in their brokerage account. I’m getting 4.5% now at chase.

@locks4 3 месяца назад

@@garypinskerare you referring to the JP Morgan section?

@jbock8753 2 месяца назад

CDs pay okay

@antp5611 Месяц назад

Exactly 💯 😢 Charles Schwab was fairly decent Banking Abroad works Best 👍🏿 Next step: DECENTRALIZED BANKING ONLY

@revenadawson3910 7 месяцев назад

I used to keep my money in Bank of America until they started with the $25 a month fee on a checking account with a lower balance. And then they started charging five dollars a month fee on a savings account with a low balance. I told my husband if I only had $300 in the checking account in six months if I never touched that money, the fees would eat that $300…that is when I closed that account.

@jtixtlan 3 месяца назад

I had the misfortune of having to deal with Bank of America when I became the executor of my friend’s estate. I have never encountered such rotten customer service and dishonesty and F-ing up. I did everything required - I provided the death certificate and the “letters of administration” from the probate court proving I was the executor. They accepted the docs but still would not provide the information I needed to do my executor duties. They were literally abusive to try to cover their mistakes. With the help of an estate lawyer that cost me $12K out of my own pocket, I finally finished everything up and got Bank of America out of my life. At one point, I went to my own bank manager and asked for advice dealing with another bank’s estate department that was refusing to let me see the bank statements and he said, “Bank of America, right?” Keep in mind that if you use Bank of America and you die, their estate department may make your executor’s life a living hell for many months.

@it1988a Год назад

Put any money you have under the mattress. It pays about the same rate of interest banks will pay you.

@davidtvedte1337 Год назад

I want to recommend that we support our small local "Banks". Make sure you are not over the FDIC limits. Also make sure you have liquid assets available from more than one "Bank". The big "Banks" already have a huge control of the "Banking" system. If too many people started emptying out their local "Bank" accounts, this run on the "Banks" would create unnecessary "Bank" failures.

@littlebitmckee8234 Год назад

My exact thought.

@Thisishard2333 Год назад

Left Chase when they got rid of all the tellers. These were people who lived in the neighborhood.Young kids working their way through college. People who knew customers names and cared.

@mel-in-portland Год назад

AGREE.

@valerieneal2747 Год назад

@@Thisishard2333 I DON'T BLAME YOU FOR DUMPING CHASE FOR THE REASONS YOU'VE GIVEN AND THEN SOME. THEY ARE AWFUL. AND IT'S MORE THAN HEARTBREAKING WHEN THEY TREAT THEIR EMPLOYEES BADLY.

@lawrencecarver4233 Год назад

Why would you trust the FDIC

@tacocruiser4238 Год назад

If everyone moved their money from regional banks to the "g-sibs", our country would be in big trouble. The regional banks play a crucial role in the U.S. economy that the g-sibs can't replace.

@mel-in-portland Год назад

Agree.

@Iquey Год назад

Yup. I think the GSIBS act like they are unaccountable to the regular people. Local banks have connection to the community they operate in.

@TSidez Год назад

The flight to large banks for safety will lead to less competition and higher costs for depositors.

@user-cz1gu8nl9o Год назад

Yep

@Baci302 7 месяцев назад

Seems logical.

@ctjmaughs 5 месяцев назад

It will not lead to higher costs for deposits

@bitrudder3792 3 месяца назад

@@ctjmaughs- We will see. Things can change quickly when they change. Mexicans are bringing their money here because the Mexican government is charging people for having money in the bank on the pretext that they are keeping tabs on and “taxing” possible cartel money. I don’t know if it’s happening everywhere, but it’s happening at least in a few places. I have to pay three dollars a month for an account just to have a paper statement. No interest. Pretty sure they’re making good money off of our account.

@nancyumass Год назад

You are so good at explaining very complex issues. I worry that taking your money out of local community banks will put them out of business when they would have survived if there was not a run on them. Think about which bank actually invests in your community as well as the points you raise. Thank you

@DiamondNestEgg Год назад

Thanks for sharing Nancy

@TL-cd8ev Год назад

👍

@dii392 13 дней назад

I don't see how you can recommend B of A, or WF. They may be safer because they have more money, but they cheat their customers to get it.

@TheOnlyRedNeckGeek Год назад

The last straw in my relationship with Bank of America came when I went to my branch to get some answers from a person, face-to-face. The teller sat me down in front of her desk, picked up a phone, dialed a number, and handed me the receiver. I handed it back to her, walked out of the branch, and transferred my holdings later that week. That was several years ago, and I've been a happy Chase customer ever since.

@DiamondNestEgg Год назад

Thanks for sharing

@TheAuToMaTiC82 Год назад

I think it all depends on location and the quality of employees they're hiring at that location. In my town we have a Chase, Wells Fargo, and PNC and PNC has by far a better reputation than the other two. Chase is straight up telling people you can't even meet with a banker to ask a question without making an appointment two weeks out or more yet PNC will help you that day with the same issue.

@michaelburnside4947 Год назад

Chase is absolutely nothing special, they definitely have some security issues.

@mdavid2540 Год назад

I have been banking with Bank of America for the past 20 years. From Texas to Maryland. No problems encountered whatsoever. My credit score is above 800. Chase for the past several years keeps sending me mailers trying to convince me to transfer my account to Chase but I am not interested.

@mikemallimo9286 Год назад

15 plus years ago BOA reversed payment on a smaller check then a deposit then ran a bigger check, putting me in a negative then ran the deposit then the smaller check causing it to bounce too. The teller explained this to me step by step. I closed my account that day & never looked back

@itchypandaa Год назад

I'd love to see a video like this about credit unions :) I prefer non-profits

@gardensofthegods 8 месяцев назад

A lot of people seem to like Navy Federal Credit Union and you don't have to have been in the Navy yourself but as long as you have a blood relative like your father was in the military then you can get in

@gardensofthegods 8 месяцев назад

The problem is they don't have a lot of locations but once you do your initial banking with them and get set up with them then they give you a list and tell you where the local ATMs are a marriage can be anything from convenience stores and gas stations to drugstores near you

@414s4 7 месяцев назад

So you realize that they don’t pay any taxes, and that to not show a profit they just buy real estate and put up more branches. They certainly aren’t contributing their fair share in taxes, don’t get why someone thinks that’s great.

@robertgoodrich8953 6 месяцев назад

Don't wait on a video. Go to your closest FDIC insured Credit Union. They are all nonprofits, so you will be happy. Do a bit of research into the corporate behavior of the liars and thieves at the 3 big banks she lists: B of A, Wells Fargo and Chase. Stay away their profits are too high for what they charge for loans. And to our moderator, you should be ashamed of pushing these big banks. They exist for themselves, not the depositor or loan customer

@weareallamericans7358 Год назад

Support your "local" Credit Unions. They invest locally and you get to keep the money away from the New York criminals 😀👍

@soundmoneystacker2787 Год назад

I have 2 credit unions absolutely love them

@TheNamche Год назад

The timing of your FDIC/SIPC series was eerily well timed. Thank you 👍🏻

@WillingNAbelVids Год назад

*Spaxx* is SIPC insured and Fidelity is huge - should be safe right?

@Jean-ni6of 7 месяцев назад

Dear Willing I will wait for a reply.@@WillingNAbelVids

@AnnMitt Год назад

Can you speak on keeping cash in a money market account in a brokerage company like Fidelity?

@09meangirl Год назад

They only saved SVB because a lot of THEIR own money and interests of those of their friends were in that bank that’s why they went over the 250,000 threshold 😡

@rusty358 Год назад

At great expense to the FDIC fund!

@jimk7964 Год назад

This content is legit - and rather apocalyptic. I'm VERY comfortable parking cash in my local bank's 4.5% money market account (FDIC-insured) vs. Chase at 0.02% APY.

@debamohapatra5403 Год назад

@MrFreddarama Год назад

Which local bank may I ask?

@ShelbyvsViper Год назад

@@MrFreddarama Probably the Bank of BS. Capital One in January was running a 4% CD rate.

@Thommadura Год назад

That is fine as long as you keep your total of accounts bellow the FDIC Maximum - but if you have more than that in a bank - Local Banks are not safe. They are currently under water for lots of Mortgages they gave out below 4% and do not have enough money to protect themselves.

@terry_willis 11 месяцев назад

That Chase, et al, can offer 0.02% APY AND get away with it, shows how corrupt these giant banks are.

@Megan-ns8cu Год назад

Another impecable and informative video. You are on the roll, thanks for your dedication, Jennifer!

@donnayeager2703 3 месяца назад

I only use member owned credit unions.

@numberoneduchess Год назад

If you really want to keep your money safe, use an investment bank. They won't finance tour next car, but you can have a checking and savings account that is totally safe, plus be able to occasionally purchase a few shares of your favorite company. I recommend Fidelity. It won't hurt to look into it.

@E.E.F. Год назад

I hate Bank of America and most of these banks and will not give them a dime.

@glow1815 7 месяцев назад

First time watching banks video. Very informative! Thank you

@EmpowermentExperiences Год назад

I bank at a single local COMMUNITY bank. Left the big banks because they DON'T CARE.

@TheMonicagal Год назад

Hi Jennifer, could you do a list of top 5 online only banks with good customer service. Savings rates are better with online banks. Thank you for everything!

@buffycat4641 Год назад

Agree, would love to see Jennifer's comments on online only banks.

@WednesdayWindsongWilson512 18 дней назад

CHASE IS EXTREMELY GREEDY... NO REAL LEVERAGE FOR THEIR CUSTOMERS... TOO DEMANDING!!! 🙄AND; FEES ARE TOO HIGH!!! 😳 GREED!!! GREED!!! GREED!!! 😡 *THINK AGAIN!!! 👍 (AMERICAN HERITAGE CREDIT UNION)... IS THE WAY TO GO!!! 🙌🙌🙌🙌

@kevinmcconnell3641 15 дней назад

I’m just an information storage unit with an insatiable appetite for, what many call, useless/worthless information. Here I am 68 years with a lifetime of seemingly innocuous information stored away. Then one day a handful of different pieces from different sources about different subjects, and a light goes off in my brain. 1929; the structure of the financial industry results in a crash that wipes out wealth like nothing before. 1933; the Glass/Steagal act separates the different sectors of the financial industry to prevent kinds of bookkeeping games that resulted in the 1929 financial crash. Fast forward to the year 2000; the glass/Steagal act has been eviscerated, as has TR’s robber baron monopoly legislation. Then comes 2007/08 and the housing driven financial meltdown results in the consolidation of troubled institutions and Healthy institutions means the sectors are no longer separate, with no way for one to survive the failure of another.

@peanutcampbell Год назад

How safe is Ally online bank? They have higher CD rates!

@davidquinn9467 Год назад

Wells Fargo??? No thanks.

@carefulconsumer8682 Год назад

Chase, Wells Fargo, and Bank of America seems to have the most branches in Texas I notice. Like one branch every few miles. Then there's the Walmart bank (Wood Forest National Bank) which has great hours and very convenient. I don't know how "healthy" they are but it appears very convenient for a lot of people.

@fengshui2151 4 месяца назад

not to worry too much if your relationship with any bank is within the USD250K guarantee through government FDIC insurance. kinda ironic that government or people’s money is the one used to guarantee the banking people from any possible adverse effects of shortcomings of banksters.

@joyceperez5505 4 месяца назад

I USE WOODFOREST AND THEY HAVE BEEN A GREAT BANK. FOR. 10 YEARS NOW.

@supersteve8305 Год назад

I really appreciate your channel. I was just wondering about this yesterday as I looked at the offers of CD on Schwab. I also love your charts you provide. I screen shoot them for further reference. Keep em coming.

@brexman Год назад

Way to conservative of a position for the times. How many banks have failed in 2023? 2. How many banks failed in 2009-2010? Over 300 but no one remembers that.

@hyperionsixzeroeight5064 Год назад

NO banks are safe.

@karenskinner7799 Год назад

PNC is listed as a national bank by Investopedia and FDIC. Pretty sure they are now a national bank.

@kollinekerns 5 месяцев назад

Essential info on the safest banks in the US! 🏦💰 Don't miss out!

@easy10 6 месяцев назад

Banking with Fidelity, I've noticed direct deposits are available the day before they are due. The bank I used before, the deposits were available the day after they were due.

@consciouspatriot4375 Год назад

Please advise: Im with Fidelity and want to move my cash from CU savings account to high yield MM like VFMXX, not FDIC insured, but would they be insured under SIPC? I'm confused about accounts (covered) and funds (not covered). If anyone can shed light I'd very much appreciate! Thanks!

@jjones8813 8 месяцев назад

Reportedly FDIC has enuf funds for all accounts covered to pay out one cent per dollar in an insured downturn.

@Bravo21 Год назад

Navy Federal Credit Union is my choice, and they are Global ... I would love to hear your thoughts on them.

@davidk.3133 4 месяца назад

I have navy fed, and I am totally unimpressed with their interest rates. They are ridiculously low in this environment, seriously low like not Even one percent. Like fractional percent. Meanwhile, all of my Capital One accounts pay over 4.25%. And I don’t even need to go to customer service to create additional savings accounts. I can do all of that online so I have accounts like emergency savings, vacation, funds, etc., and I’m making 4.25% on all of that money which is a big deal when you have 20 or 30 K in the bank. But I still keep navy fed because Capital One doesn’t have any branches where I live in while I can do most stuff electronically there are sometimes I need to visit a physical branch and so that is what I use Navy fed for But I keep the minimum in my account to avoid service charges.

@traced5900 4 месяца назад

Navy federal does not participate with the credit union service centers. If you are not in a state where they have a branch you cannot do any major banking.

@philipjanek3864 5 месяцев назад

I knew there was a reason I have my military pension deposited in Chase 😂 i keep my cash in my pockets 😂😅 ohh i forgot physical gold and silver 😉 no fee veterans checking accounts ok

@tiamariza7348 Год назад

Hi Jennifer, Thanks so much for sharing your expertise and knowledge with us. I have researched a lot of things because of you bringing awareness to the community. Is there a way that you can do a video on Credit Unions and where to find information about which one is safe? I stop using banks 10 years ago because credit unions offered higher rates for checking, money market and savings accounts.

@DiamondNestEgg Год назад

It's in the works as we speak

@valerieneal2747 Год назад

@@DiamondNestEgg THANK YOU FOR THE INFO YOU PROVIDE FOR US. IT'S SO NICE TO RECEIVE SOLID INFORMATION FROM ONE "IN THE KNOW".

@mel-in-portland Год назад

Hmm, for the 1st time I'm surprised by your advice, specifically about the movement of your and your clients' money to the 8 systemically important banks. Why would this be necessary if you're with an FDIC-insured bank and under the FDIC limits (for which you showed us, in another video, how to get substantially more protection by adding beneficiaries)? Withdrawal of deposits from local and regional banks only further destabilizes the situation for everyone.

@nicmart 4 месяца назад

The smaller banks are those that failed during the Great Depression. Diversified companies would be more secure, and congress should eliminate the prohibition on companies like Walmart operating banks.

@AmyZantzinger 5 месяцев назад

It's essential to choose a bank that prioritizes security, and these 8 options seem like solid choices for peace of mind!

@jeffblackard9753 Год назад

As long as a democrat is in charge I feel safe I mean the past two weeks drove that message home. What matters most is my bankers pro nouns not their actual knowledge of banking.

@goatsuukerhill Год назад

Wow, thank you for this information. I have been buying high interest rate, FDIC covered cd’s from banks I have never heard of before. I have bought them via my Schwab Brokerage account. Since none of them are on your list of 8 safe banks, do you think these purchases are too risky at this time? Also, how do you rate Schwab bank? Thank you, Warren

@g.t.richardson6311 Год назад

I done the same through TD Ameritrade, and Fidelity They are all FDIC insured, as you said. Not worried about it.

@SpaceClick Год назад

If they are FDIC insured banks and under the FDIC limit, then you should be fine.

@goatsuukerhill Год назад

@@SpaceClick If there is a contagious run on banks, FDIC may not have sufficient funds to cover every depositor. I understand that the FDIC reserves are only 1.5% of all American deposits. Is there a reasonable risk that FDIC insured deposits will not be covered with a nation wide run?

@FF-om7rb Год назад

I have done the same as you have and I am not worried about it. I bought a lot of different CDs from various banks and am under 250K with each CD.

@sebastianromero420 Год назад

@@goatsuukerhill you answered your own question

@mikesorensen1981 Год назад

I think it’s good to spread your money to different banks, big bank, local 👍

@andyh4518 Год назад

Quite the conundrum for those who are really worried about their smaller bank failing, have no faith in the government, and are morally opposed to the too big to fail banks.

@OroborusFMA Год назад

As all my banks are FDIC and I don't have anything close to $250k in any single bank, this is all a tempest in a teapot to me. If capitalism is going to collapse it won't matter where my money is, I'll just be as poor as those poor souls who survive paycheck to paycheck with less than $1,000 in their personal checking.

@glgermain Год назад

All banks are insolvent and your deposits are worthless if the US government fails.

@AJP2565 Год назад

40 years of bashing the government for the masses has worked.

@robbieraychannel 7 месяцев назад

I was wondering what do you think about TD bank as they are Canadian. Thanks....

@1baddad315 Год назад

Wow! You are so awesome! I did a ton of research myself over the last 2 weeks, with a preference/bias towards supporting local and regional banks. Your research is so well structured and rational I will for sure take it into consideration. We are so fortunate to have you sharing your experience and knowledge with us!!! Thank you for all that you are doing!

@johnk6749 Год назад

JL, your content is great; you give us some very important information. Thanks to your info I bought a $10,000 i-bond in 12/21 and another one in 01/22. I now have a brokered-cd ladder at Fidelity and I'm looking at t-bills next. Thanks for all you do.

@DiamondNestEgg Год назад

Glad you’re enjoying the vids & good luck!

@FasterandFunnier Год назад

Hi, I enjoy your videos and sincerely appreciate your knowledge, what’s do you think is safer, in a brokerage account a money market fund with a NAV of one dollar backed 100% by US Treasury Bills, Bonds and Notes or a FDIC savings account at a bank (Even one of your 8 picks). The MMF is making 4.2% and the savings is making .45%.

@Bruin4Life 7 месяцев назад

I just read a financial report (2024) which ranked Bank of America, Chase Bank and Wells Fargo as the three worst banks in America. Have you recently updated your list?

@hugosalinasaliaga5266 Год назад

Treasury Direct is the best option, a bit slow, but very safe.

@DiamondNestEgg Год назад

You're not the only supersaver that thinks this!

@glgermain Год назад

Here's one supersaver who disagrees. Clunky website, often shut down, terrible customer service by phone (hours to get through) and no safer than any other account backed by the full faith and credit of the United States Government. It's the only option for I-bond purchases, but otherwise why would anyone want to use them and earn zero percent?

@susanmusso Год назад

Would you be able to explain to me how to add a beneficiary to existing treasury bills? I can't seem to figure that out.

@4sumcrazyshit Год назад

Where the billionaires bank their money?

@vincentstouter449 Год назад

The issue with the largest banks is that their liability exceeds the capacity of FDIC assets. When these banks default there is uncertainty to the government’s ability to bail them out (the government itself is on the verge of failure). A smaller bank failure will quickly result in a bailout by the FDIC in order to maintain public confidence.

@detch5307 Год назад

Excellent presentation! Beautifully structured, clear, concise, and informative. I never knew about G-SIPS. I just subscribed and I'm off to watch your videos on "Bail-Ins" and the "5 To-Dos". Thank you for the insight.

@jimmywalters3071 Год назад

I know someone with $350,000 tied into one bank .. a checking account and several CD's .. is this person protected ?

@matthewwagner5036 Год назад

No, take $100,000 of the balance and put it into a different bank account. FDIC only covers up to $250,000 per account.

@n.c.467 Год назад

But...my question is this: If our country defaults on its debt to other countries, how sure should we be that it will honor the funds of its own citizens?

@lindap.p.1337 Год назад

I am afraid we know the answer. If they know ahead, politicians first. You and I will get to fight over any remnants.

@yilingdong628 Год назад

Extremely helpful, thank you for hard work!

@williamjones7821 6 месяцев назад

The safest banks, to me, are credit unions. Every one of the "national banks" have TONS of horror stories. And they have many fees which WILL happen to you. And with two 20+ year old Saturn cars, I keep $100 or more in cash hidden in my house for an emergency tow truck fee.

@quakers200 Год назад

You can keep 250 thousand in a bank and it is safe. Open another account somewhere and another 250 thousand. So unless you are in the business of keeping over half a million in a bank it does not matter.

@emc6511 Год назад

Sounds like a plan; G-SIBs as best horses at the glue factory LOL Just kidding; but agree; cannot go by rating services (always high ranking until the day after a failure); nor by the financial reports that have been cooked to death LOL Diversify even down to your checking; stay within insurance maximums; and carry on! Thank you for your excellent videos.

@CageyLeigh Год назад

The only reason I joined a credit union was to be able to get cash when I need it.

@rogerjohnson833 Год назад

The dollar crash is next year. No bank is safe. Store up food.

@garyviejogringo9486 Год назад

Thank you for your consistently responsible financial coverage. There are too many YT channels that are fear mongers. Thank you for being you.

@T18skyguy Год назад

Great video Jen, could you make a video on how we average folks can determine the health of a bank? What websites do we go to, what data do we look for etc thanks Don

@DiamondNestEgg Год назад

Noted!

@debstayblessed9549 Год назад

Do you have video on credit unions pros & cons. Thanks for this video excellent information.

@DiamondNestEgg Год назад

Stay tuned!

@celesteelijah2515 Месяц назад

I agree with you. I need to eyeball my Bank Manager. However, do like Ally but it's mobile/online only. Also, why is it that there have been so many Class Action lawsuits against BOA, Wells Fargo,? I have been reading about these cases. I have my inheritance at both of these banks and BOA I have several CDs and another account which is more than the $250,000. I have questions and may want to move my money. What about TD Bank? Thanks for your advice and info.

@jimgraham9450 Год назад

Non of those banks are close to where I live and they are not close to anyplace that is not a large city. Truist is the biggest bank to where I live.

@jimmycrackcorn2897 Год назад

The safest Bank around to put your money in is your mattress lol 😂

@edmalin9485 Год назад

Thanks very informative....find it easier to ladder CDs instead of treasuries. CDs paying higher then treasuries now. 1 month to a year all FDIC insured.

@nidwannaya Год назад

Laddering treasuries is just as easy as laddering CDs at a brokerage like Fidelity. You can also have them auto roll at the end of the term.

@edmalin9485 Год назад

@@nidwannaya The point was CDs are paying more then treasuries.

@robertmcdowell3299 Год назад

with treasuries you only have to pay federal taxes but with CDs you also have to pay state and local taxes as well..could make a big difference depending on where a person lives

@edmalin9485 Год назад

@@robertmcdowell3299 good point I live in a non tax state.

@jseboudoir Год назад

Union Bank has been absorbed by US Bank. Where is US Bank in all of this?

@k.6160 Год назад

Are CDs considered cash in the $250K limit, or is it just real liquid cash??? Thanks.

@glgermain Год назад

Yes, bank CDs are insured just like any other deposits up to the insurance limits. They may cash them out early if the institution failed.

@k.6160 Год назад

@@glgermain okay, thank you.

@empire867 Год назад

The Fed have been watching WFC after all those scandals ,penalties and asset cap. The safest bank should be WFC in my opinion...

@kevinmcconnell3641 19 дней назад

Unless you have LOTS of money banks don’t care about their depositors!!

@vickiebonano2092 Год назад

Thanks, Jennifer. Another wealth of information to ponder on. So many decisions...overwhelming.

@DiamondNestEgg Год назад

Hopefully I’ll have something out soon to make things a bit less overwhelming!

@rickb2537 Год назад

If there is a serious domino effect, no one is going to be saved. There is not enough money with the FDIC and SIPC, etc., to bail out everyone. Just face that fact and take your chances knowing we could all lose what we have because of greed, incompetence, and stupidity. Only other choice is to keep your money at home and sit around with guns at the ready. I'm spreading my assets around at different banks, insurance companies, Treasury Direct, and brokerages.

@shadowbanned4days Год назад

@@lmilostr wow you love the kool-aid

@charlesromney Год назад

Diversification is the key always. Never trust any of them, split the money between all of the options.

@charlesromney Год назад

And you will be covered under the FDIC.

@CEMunn Год назад

Don’t the safest banks pay the worst interest rates?

@flubberghosted2472 Год назад

This is amazing. Thank you, I subbed. 😃🙏💯💰

@brucesteele3052 4 месяца назад

One bank and one cu you list have legal customer issues, and I personally would stay clear of them. Do a little research on your own before you deposit your money.

@nikineal69 Год назад

Very informative video! Hate Chase & I have a pension with them. I'll take my chances with First Republic Bank.

@DiamondNestEgg Год назад

Thanks for sharing!

@user-no1cares 27 дней назад

Spread it out in stable banks & credit unions & keep quiet about where your mayonnaise jar is buried.

@JeffreyWayne-z8v Год назад

The safest Bank to put your money in it's called your mattress lol 🤣

@kku9546 Год назад

I am Citi Bank 10 years existing customer. This Bank sent my online paid uncashed money to State Unclaimed Property. And this City Bank is still holding my online shopping returned money for 10 months without released the money to me just asking me to write letters many times to prove and explain the evidence.

@ravichopra9761 Год назад

Thank you for teaching this. No where else this information is shared

@dennismoore1116 Год назад

What about the fact since March of 2020, the Fed has set reserve requirements down from 10% to 0%? And have reiterated that policy at the end of 2022. So does GSIB 4 have 2.5% instead of merely 0%? I'm not that impressed. From what I've seen most medium to small banks have settled around 5% reserves and larger banks around that 2.5% mark. For instance SVB had $9 billion for deposits of $211 billion at the end of 2022. The only GSIB I have experience with is Wells Fargo. It is an absolutely horrid bank for a regular small depositor to do business with. I and relatives have nothing except horrible service from them. Not to mention the situation where they opened accounts people didn't ask for and fraudently charged fees and a few other issues in recent years. I'd advise no one do business with them. I no longer do.

@DiamondNestEgg Год назад

The G-SIB buckets are capital requirements. The Fed reserve requirements are different.

@marilynsimpson1236 Год назад

Great video rich with usable information 👌🏾🤑

@Amador-u2p 26 дней назад

Bank of America is not good too much interest that why there are good in themselves

@ben-memes1 7 месяцев назад

Thank you so much for this video. It was very helpful and informative

@TheAuToMaTiC82 Год назад

How is PNC a regional bank of they have locations across the country? They're in Florida and spread across the country to California and Arizona. I thought regional banks were limited to a few states or one section of the country?

@raniam2325 Год назад

Thank you for sharing. I recently subscribed and happy to find you. I'm curious if you are aware of Marcus by Goldman Sachs high interest rates on savings account and wanted to know if you recommend any like them? TYIA

@Amen.22 11 месяцев назад

Which US banks are good if you move to another country such as Thailand, Vietnam or the Philippines? I’ve heard that people have problems logging in and get locked out of their accounts for months. One problem is when you login they want to send a verification code to your US phone number. That’s a problem if you no longer have a US phone

@cliffsilverman8344 Год назад

Are credit Unions safer than banks

@DiamondNestEgg Год назад

Is Your Credit Union Safe? | How NCUA Insurance Protects Your Money ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-snExLuqo0lg.html

@rickb2537 Год назад

Jennifer does a great job giving you the best options and information. She knows that if everything starts to go down, it's over for everyone. Percentage wise, it's not likely, but not totally out of the question. American capitalism has no reasonable parameters at this time in history and recklessly plows forward bloated with greed and self-interest.

@detch5307 Год назад

Nicely stated.

@ken123ken100 Год назад

Are these banks high in derivatives? Do these banks have greater exposure to derivatives. Are the banks at greater risk.

@belly4608 Год назад

most of us are not likely looking into a bank's balance sheet, etc. so as long as our deposits or cds are under fdic max 250k, we should be okay regardless of which bank, right?

@glgermain Год назад

Right

@MI-6e Год назад

I always check the ratings and do research for whatever I purchased, ,i.e., banks, auto/home insurance. Every industry has them. after the SVB, I did look up financials and additional ratings on all my bank accounts, surprised with some findings.

@regularguy9 7 месяцев назад

Goldman Sachs has to be the safest bank.

@katechen9458 Год назад

I have money in g-sibs bank already because it has a branch nearby (I even didn't know it is g-sibs bank. Thank you for the education). However, the rate is very low. So I still have most of my money with other FDIC-insured banks. If unfortunately, something happens, I still have money in the g-sibs bank to use until the FDIC gives my money back. I did that before the SVB bankrupt. Personally, I prefer to have 2 different banks/cards. If one bank card suddenly had some issues, which happened to me before during international traveling, and I still have another.

@DiamondNestEgg Год назад

Thanks for sharing

@nytess2 Год назад

Capital One has been very good to me. Chase not so much

@DiamondNestEgg Год назад

Thanks for sharing

@paulrock1813 Год назад

Thank you DNE for the informative video on G-SIBs. My concern with G-SIBs is with the reduction of US hegemony over the coming years there will be higher inflation. Some of these G-SIBs have the majority of derivative holdings. My understanding is the largest holder of derivatives is Goldman Sachs & the 2nd largest holder is JPMorganChase. Some market analysts are watching the impact of BRICS+ and possible breakout of more war. They believe a collapse of the global financial system will start in the debt market. If the derivative market was to collapse (quadrillion = 1,000 trillion dollars) it will crush all financial institutions. Is this the "Great Reset"? May be. I'm comfortable with T-bills, the zero interest account at Fed Direct which you mentioned and physical gold & silver held at a non bank depository. I look forward to your future videos.