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07.16.08, 17:15 PM New York City
13 replies
In a bit of a panic. Any Banker moms on??? I have over the FDIC limit in Wachovia. They are getting all sorts of bad press. Should I run and get everything out and can they release funds over 100K right away? Thanks in advance. [ Reply | Watch | Flag ]
New York City 07.16.08, 05:15 PM Flag
 

Dear UrbanBaby community,

Thank you so much for being a valued member of the UrbanBaby community. We wanted to inform you that we are shutting down the site on July 6th. We are grateful for your participation and support that has helped make UrbanBaby such an important resource to parents for many years.

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Thanks so much,

UrbanBaby Support

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take it all out and stash it under your mattress [ Reply | More
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General Topics 07.16.08, 05:16 PM Flag
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I'll be flamed I'm sure but we had way over the limit at Citibank a few months ago and moved it out. Yes, I would take some action without panicking. No one on this board would have predicted Bear Stearns going down. [ Reply | More
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General Topics 07.16.08, 05:24 PM Flag
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where did you move it to? [ Reply | More
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General Topics 07.16.08, 05:42 PM Flag
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But any cash or securities held at BSC was fine. There was no run. [ Reply | More
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General Topics 07.16.08, 05:46 PM Flag
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you need to give them some notice [ Reply | More
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General Topics 07.16.08, 05:30 PM Flag
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no you don't. You give them wire instructions and the funds are sent out same day. [ Reply | More
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General Topics 07.16.08, 05:33 PM Flag
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is it a joint account? if so, you are covered up to 100k for each person. [ Reply | More
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General Topics 07.16.08, 05:40 PM Flag
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If you are over the limit (ie: 100K per person on the account) just open a second (or third, or fourth) account. You are protected per person, per account. Not total per institution. [ Reply | More
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General Topics 07.16.08, 05:44 PM Flag
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Wrong. It's per person. Go find another bank. [ Reply | More
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General Topics 07.16.08, 05:47 PM Flag
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No, it is not. http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html [ Reply | More
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General Topics 07.16.08, 05:49 PM Flag
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Um ... did you actually *read* what you just posted? From the FDIC website: "The basic insurance amount is $100,000 per depositor per insured bank." In case you didn't know, "per depositor" means per PERSON. [ Reply | More
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General Topics 07.16.08, 05:57 PM Flag
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np: Posts are not always continuous. The person posting this might have been responding to the "If you are over the limit" comment. UB has been funky lately. [ Reply | More
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General Topics 07.16.08, 06:01 PM Flag
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The Fed and OCC are not going to let any banks fail. Don't worry. If you are truly concerned, just open up additional accounts and spread your money out so that no one account has more than $100K per account holder. [ Reply | More
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General Topics 07.16.08, 05:45 PM Flag
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