Should You Change Banks?

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With all this banking mess going on, is now the right time to change banks? Should we be afraid of small banks?
► FDIC insurance limits: • $3.5 Million FDIC Insu...
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Timestamps
0:00 - Should you change banks?
2:34 - Should you leave your small bank?
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Опубликовано:

1 июл 2024

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Комментарии : 1

@vinnyg2619 Год назад

We've owned PacWest for a while. It was paying a decent dividend and seemed like a "safe" bank. Recently I have been taking stock (pardon the pun!) in what we own and have decided that going into retirement I want us to own mostly ETFs or Mutual Funds due to the safety factor of having 100, 500 or more securities in one place. I started by selling a lot of items that I considered risky and PACW was just shy of breaking even and I figured I would keep it until breaking even then SVB hit! 🙄We don't own a lot of it but yes as a shareholder it stings. I have been lazy selling some of our other "winners" but going to put my mind to just sticking with stock funds. As far as moving deposits to a different bank, if the FDIC moves fast or another bank buys the bank then all should be good. We use a large bank only for convenience of ATMs when needed. Our mortgages have always been through small community banks and I feel we always got a better deal then from a large bank.