Comments on: ‘Interesting’ News about the FDIC http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/ The best Credit Card Debt Blog online Wed, 17 Mar 2010 10:38:55 -0400 http://wordpress.org/?v=abc hourly 1 By: Don O'Malley http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/comment-page-1/#comment-8417 Don O'Malley Thu, 06 Nov 2008 18:26:21 +0000 http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/#comment-8417 Very clear article and so interesting. Stumbled it. Yes, we moved cash from a bigger financial institution to a small bank almost a year ago....and we glad we did. We removed cash from the sale of our home from our Morgan Stanley account to High Country Bank, now called Yadkin Valley Bank in North Carolina. Glad to have the cash now and glad we got out of there in good time. Very clear article and so interesting. Stumbled it. Yes, we moved cash from a bigger financial institution to a small bank almost a year ago….and we glad we did. We removed cash from the sale of our home from our Morgan Stanley account to High Country Bank, now called Yadkin Valley Bank in North Carolina. Glad to have the cash now and glad we got out of there in good time.

]]> By: Carnival of Financial Learning #15 - Google Timeline Edition | Financial Learn http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/comment-page-1/#comment-5628 Carnival of Financial Learning #15 - Google Timeline Edition | Financial Learn Sun, 07 Sep 2008 16:37:31 +0000 http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/#comment-5628 [...] Your Card presents ?Interesting? News about the FDIC posted at Master Your [...] [...] Your Card presents ?Interesting? News about the FDIC posted at Master Your [...]

]]> By: Brian http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/comment-page-1/#comment-5295 Brian Wed, 03 Sep 2008 10:35:39 +0000 http://masteryourcard.com/blog/2008/09/02/interesting-news-about-the-fdic/#comment-5295 Yes, I have moved my accounts from a larger bank to a very small (two branch local savings bank). I moved for three reasons. In order, the reasons are... 1) I signed onto the big banks online banking system one morning to be greeted by a big picture advertisement suggesting that I purchase a home from one of their over 500 foreclosed properties. This did not give me a feeling of comfort as this happened right after the failure of IndyMac. 2) Back in March I had moved into a new house that I had had built and my big bank was supposed to be building a new branch about 2 miles away. The new branch is now on hold and the closest branch is a 10 mile drive (i.e. $2 for gas any time I need to go to the branch). 3) The big bank no longer allows CD's to be purchased for smaller amounts of money. I just started opening a CD each month for $500 and apparently the big bank now only wants CD's of $2,500 at a minimum. If you don't have that then they force you into a savings account that is currently paying 0.10% interest. My new bank is, as I stated, very small but they have much better rates, allow the $500 CD's I wanted and heck, they all know my name and get upset with me if I come to the branch and don't bring my dog so they can give him a treat. Yes, I have moved my accounts from a larger bank to a very small (two branch local savings bank). I moved for three reasons. In order, the reasons are…

1) I signed onto the big banks online banking system one morning to be greeted by a big picture advertisement suggesting that I purchase a home from one of their over 500 foreclosed properties. This did not give me a feeling of comfort as this happened right after the failure of IndyMac.

2) Back in March I had moved into a new house that I had had built and my big bank was supposed to be building a new branch about 2 miles away. The new branch is now on hold and the closest branch is a 10 mile drive (i.e. $2 for gas any time I need to go to the branch).

3) The big bank no longer allows CD’s to be purchased for smaller amounts of money. I just started opening a CD each month for $500 and apparently the big bank now only wants CD’s of $2,500 at a minimum. If you don’t have that then they force you into a savings account that is currently paying 0.10% interest.

My new bank is, as I stated, very small but they have much better rates, allow the $500 CD’s I wanted and heck, they all know my name and get upset with me if I come to the branch and don’t bring my dog so they can give him a treat.

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