Log In  |  Register          Free Newsletter Subscription
Magazine Subscription
Email
Learn RSS

The Bottom Line   



Link This | Email this | Blog This | Comments (0)


Is Your Money Safe in Your Bank?

September 15, 2008

After eight bank failures through Aug. 1 this year, business owners are wondering if they can bank on their money being safe, Entrepreneur.com. The Federal Deposit Insurance Corporation (FDIC) offers coverage up to $100,000 for deposits per bank, but many business owners have bigger accounts. Add up all the accounts in your name at a bank, including checking, savings and money-market accounts as well as certificates of deposit. If your funds total more than $100,000, move the excess to another bank. In addition, Entrepreneur.com banking experts and financial planning specialists agree on these tips to help you determine if your bank is sound and what to do if it's not:

 

  1. Check out FDIC, Federal Financial Institutions Examination Council (FFIEC) and your state's banking commission websites to determine your bank's rating.
  2. Know what your bank specializes in, such as leasing or real estate.
  3. Know your bank's delinquency rates.

Posted by Shanu Singh Guliani on September 15, 2008 | Comments (0)


Email
Learn RSS



POST A COMMENT
Display Name or Registered Users Login Here.
Please restrict submissions to less than 7,000 characters (including any HTML formatting).

Change Image
Before submitting this form, please type the characters displayed above.
Note the letters are NOT case sensitive.

Advertisement

Advertisements



SPONSORED LINKS


About Us   |   Advertising Info   |   Site Map   |   Contact Us   |   Free Subscriptions   |   Affiliate Links
©2010 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Use of this Web site is subject to its Terms of Use | Privacy Policy