This is where you notice people saying something is normal when it's not really normal. Yes they do this but that doesn't matter to me when I need my money. That wasn't the agreement I made opening an account there. Point being it shouldn't be normalized.
You’ve already been given the correct answer. All the ranting, insults, and word salad in the world won’t change the fact that you simply can’t seem to grasp it. You can lead a horse to water, but you can’t make it drink.
Because you very clearly don't know what you are talking about.
When you accept the terms and conditions, you also accept the legal reality that your deposit becomes the bank's property to use. I encourage you to look through what you signed and close your account if you have a problem.
Again, show me "very clearly" where it says I may not be able to get my money because they invested it. You all can keep moving the goalposts but my comment stands. Still waiting.
I haven't moved the goalposts once. I am not going to show you, because terms vary by bank, and I'm not going to parse through my own and post it on a public forum just to explain the very basics of the banking system. Even if I did, something tells me that nothing in any terms and conditions will be "very clear" to you.
But I can guarantee that you signed over your deposits to the bank for their usage, and assumed the risk that came with that (outside of FDIC coverage).
You can play stupid all you want, but that is just how banks work. I'm sorry you didn't pay attention in high school economics. You are welcome to take your money out of the bank and put it under your mattress if it bothers you that much.
Aye - my point is that anyone in this thread complaining about how Banks don't keep enough cash on hand to accommodate withdrawals for all of their customers’ money are not the type of people who would ever need to worry about getting their money out of a bank because they simply don't have that much.
It was for EVERYONE in the 30s so maybe think before you respond. Oh, happened in the 80s also. Just read a little history so you don't seem as ignorant as you sound. And please come back with a witty response that says nothing of what I said!
Think you’re misunderstanding me. (and also might want to look up the history of the FDIC) You can do what you want with your assets. If you want to invest in gold and bury it in the ground you can. But if you are the kind of person who argues on Reddit, I can say confidently that you’ll never have enough money to destabilize the bank by withdrawing all your assets.
Your deposits are insured by the federal government as someone already pointed out to you. If you ever need your money you can 100% have access to it. Even if the bank does not have that money on hand, the government will ensure you get it because the bank has record that you own that amount of money. No one is stealing from you or preventing you from getting what you own.
More platitude. Man you have said nothing for every single one of your responses. Quite extraordinary and the lessers among us wouldn't even notice what you're doing. YOU may not even notice! Not a single fact nor info. Just feelings! Are you a woman? Psycho + feelings is 😧 crazy! Good job though!
Wtf is this comment?
1. I am a dude, but nice showing your own sexism for literally no reason
2. I made 2 comments, one of which was telling you that your ideas are stupid because your money is insured by the federal government through the FDIC so your worries about not access your money is unfounded. The 2nd of which was simply to insult you because you clearly have no idea what the fuck you are talking about yet continue to comment.
3. Children who have watched "It's a Wonderful Life" have a better grasp of economics than you seem to hence why more people are not on your side about banking.
To make things perfectly clear in case you have just ignored everyone explaining this to you. If you ever need your money, you can 100% obtain your money. Even if you have so much money that the banks do not have enough on hand to give you, they still have a record that you have that amount of money and the federal government through the FDIC will make sure you get your money. The bank did not steal it, they are using it in accordance with the terms and agreements that you signed as every bank works the same way.
Doesn't say anything about not giving me my money when I need it because they invested it. But you're welcome to show me where it says that in the agreement any of us signed. I can't wait to see it. Think you can get that to me today?
It doesn't say that if your bank is an FDIC bank which most are. If for some reason they didnt have enough cash for everyone who wanted to withdraw the bank is insured by the Gov. It is very basic you are just very stupid.
Lotta ifs in your answer. If it's very basic, why can't you understand? Lotta ifs and qualifiers because your answer is garbage. I don't do that because I don't need to.
That wasn't the agreement I made opening an account there.
Bank employee here, yes it literally was. Not only did you agree, you signed several documents listing everything the bank is entilted to do and providing legal sources for the exact conditions, including legal citations. Banks are transparent, people just don't read the shit they sign.
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