As of October 3, 2008 President George W. Bush temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. Also it is NOT $17 per $100, it is dollar for dollar including principal and any accrued interest. I posted links for any questions in my pre-post.that fdic ins. is the biggest joke i have ever heard. if you have up to $100,000 i think is the correct amount but anyway, it is only insured for $17 for every $100 you have in there. i'm pretty sure on the numbers, if i am wrong i'll find out and write again with the correct info
I have a WAMU account and also had one at Netbank, which went TU about a year ago. With Netbank, they closed the website for the weekend, credit and debit cards still worked, and were open as usual on Monday. Over a couple of months, I either had to move to ING, who took them over or get another account someplace else. It was easy to move to ING, which I did, but I also opened an account with WAMU just in case one or the other had a problem. I NEVER keep much in either account 'just in case.' With WAMU, the only thing that has changed is now the website has a 'welcome to JP Morgan Chase' banner on one side. Everything else is the same.I heard that Wamu checking went bankrupt. Was anyone from this board a member of that bank? What happened with your money and what bank are you going to switch to?
Agreed. I just use them for the convenience. It also save me money, as I don't have to use stamps for bills, and with automatic bill paying, if a payment gets to them late, they work it out with the payee.i still don't trust banks and i keep as little in them as poss. the fdic is still a big joke. there is no sure thing when it comes to banks they r all gonna fail.
Ummm.....no, not joking at all. I decide when to pay the bills this way. No, I NEVER have authorized anyone to just take out of the accounts. I program it in when I want them to be paid and if I don't have the bux, the payment just doesn't happen. I can cancel payments with a few key clicks, or change the date or amount the same way. But this way, I don't have late fees for forgetting to mail a check out or if it gets lost or slowed in the mail. Sure, I get 'requests' from bills to set them up so they automatically take it out. I don't do that at all. I totally direct this bill paying set-up.Automatic bill pay, ( socialism is encroaching!) PLEASE tell me your joking.
Do you recall signing that one document that you really didn't understand, Ya know the one that says, (in a nutshell), WE can take from your account whatever we want, and if it's more then what you have you get to pay the overdraft fee??
Sounds like a little to much faith in private business/government to do the right thing.
I'll stick with ME deciding when to pay my bills, that way if for whatever reason I need those few dollars I choose to put in the bank I can get it.