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Is My Bank in Trouble? Check the List!

Check the list to see if your bank is in trouble.

Check the list to see if your bank is in trouble.

Is Your Bank in Trouble?

Is your bank in trouble? If it was - and you knew - what would you do? Withdraw all your money or wait and see if things worked out OK? After the Armageddon like economic shake-up that we've been recently faced with, many Americans are asking themselves these questions and wondering just how safe their money in the bank really is.

Personally, because I've been following financial news and threads closely for the last couple years, I'm not surprised at the meltdown that is currently occurring. I have been antipicating a meltdown for awhile, but just didn't know how it would unfold.

Basic laws of business apply here:

The United States Government and Wall Street have been making some bad business decisions, and like any business, bad decisions eventually catch up with you. I know because I owned and operated a small business for over 14 years. When you have problems and they are not addressed they only get worse. Throwing money at the problems doesn't make them go away, it just delays the problems getting solved (contrary to popular opinion, money does not solve everything)

The 700 Dollar Billion Bailout Bill

So with the passage of the recent 700 Billion Dollar Bill to bail out Wall Street, I am cautiously optimistic. I know that unless the underlying problems that caused this mess are not addressed and cleaned up, we are going to be back to where we started, and this time we will just be deeper in the hole.

So with all this failing financial mess around us you might be feeling a little shaky about your bank, with good reason. Does that mean you should go out and withdraw all your money? Hide it under the mattress?

I'm not going to advocate doing that in this article but what I will say is that you at least have the right to know if your bank is in trouble, and if so, provide information for you to make a sound decision regarding your money. Because I am not a financial guru, I have provided a comprehensive list of important links below that can help you make better decisions with your money, and to understand how banks operate, and to understand more about whether your money in the bank is safe or not.

My Own Personal Financial Plan

As for my own personal financial plan nowadays - mine is very simple. I use cash, money orders or cashiers checks to pay my bills and live on. I closed my checking accounts a while back, cancelled my ATM card and threw away my credit cards (gasp!)

For me and my life this works just fine. When I need to cash a check I go to Walmart, and I cash it for a very reasonable fee. I also get my money orders and cashiers checks there for a very reasonable fee (I love not having to deal with those nasty bank service charges anymore!)

It has simplified my life, I am now down to only one small credit union account, which I have kept open. If I don't have cash to buy something, I don't get it. If I can't afford something, I no longer use credit to buy it. It has been a big life change, but for me one that was necessary to ensure I travel as light and simple as possible in this life. Some of you might gasp at the thought of not having an credit card but for me this lifestyle change has worked just fine. Sure I have had to make some adjustments but it was well worth it. That being said, I will never look back to my previous banking habits (which ultimately got me into trouble)

So if you are worried about your money in the bank, asking yourself if your bank is in trouble, please read up on the consequences and risks of both keeping or withdrawing your money from the bank.

Poll on Your Recent Banking Habits

FDIC List of Failed Banks

Latest on Troubled Banks 12-12-08

Banks In Trouble List

Check The Rating of Your Bank Here

Is Your Bank Safe?

Bank Customers Shuffle Their Funds

Is Your Bank at Risk?


Dorsi Diaz (author) from The San Francisco Bay Area on July 18, 2012:

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@monica) I agree. Thanks for reading and the comment.

monicamelendez from Salt Lake City on July 17, 2012:

Unfortunately it seems like almost every bank is in some kind of trouble or at least, part of their business is in trouble. Of course, we all over-use credit to a shocking degree and that isn't wise either.

Dorsi Diaz (author) from The San Francisco Bay Area on September 30, 2010:

klaboyy) Thanks for reading!

klaboyy on September 28, 2010:

Well just heard about alternative way of banking, i think that should solve the problem of all these banks crisis. Good hub.

Dorsi Diaz (author) from The San Francisco Bay Area on September 03, 2010:

Paul)I don't feel it'a necessary for me to participate in a banks way of doing business. It's a personal choice and I feel no guilt about it. I have a private home lender, my car is paid off and I use reloadable charge cards to buy online or pay bills. I don't plan on using charge cards anymore and I don't plan on buying a new car with payments.

Thanks for stopping by.

Paul on September 03, 2010:

So, in essence you are actually contributing to the problem.

What if you wanted to get a loan for a car or house?

What if you needed to book an airline ticket? Requires a credit card.

Dorsi Diaz (author) from The San Francisco Bay Area on April 25, 2010:

Hard to believe almost 2 years has passed since I wrote this hub. Seems like we are going to be in trouble for awhile- even with all this talk of recovery I don't see it happening soon. Just my humble opinion.

Best Bank Rates on April 08, 2010:

So true if problems are not addressed on time they may grow so big that you may have to shell out 700 Billion Dollars to save your face. the best option in business and government is to take the problem by its face. However in today's time we lack leaders who can stand up and bell the cat.

Jyoti Kothari from Jaipur on December 06, 2009:

Hi Dorsi,

Well written informative hub as your others. We, India are not facing any problem with banks here.

These are running perfectly well. No major bank failure in India.


Jyoti Kothari

helenathegreat on March 17, 2009:

The financial crisis is so complex, most people have no idea what's really going on. You make a good point about personal finance in general: if you don't have the cash to buy something right then, don't buy it. But financial institutions in general are not the enemy right now (at least, not all of them), and not everyone needs to withdraw their money immediately or anything. There is a reason the FDIC insures all of your deposits up to $250,000; if there were a run on the banks, then we'd really be in trouble.

retirementhelp on February 24, 2009:

Very good information. People should be prepared for the fact that their bank could fail. Until banking goes back to actually using financial principles to run their operations they are going to struggle. Great Job!

britney on February 23, 2009:

this is a nice posted a good information for me...

lewis on February 23, 2009:

this is a nice posted a good information for me...

Loona on February 10, 2009:

Nice hub.several in our area are in trouble. I wonder what it'slike elsewhere?

Ddnold on January 30, 2009:

No loans, No credit cards and no bank accounts here. I along with my wife withdrew all of our savings and while we keep a checking account in a credit union we hardly ever use it. We also cashed out our 401K which cost us about $60,000 in taxes and penalties. Had we waited another 4 months we would have lost double that amount.

The true rate of inflation in near 10%. If you have $10,000 in the bank, You are losing $1000 in purchasing power annually. As long as the rate of inflation is higher than the bank rate there is no reason to keep your money in a bank, unless of coarse you like the fact that banks are using your money, free of charge, to make money for themselves while you lose money.

Donnyman on January 30, 2009:


cdloanmod from Dana Point on January 20, 2009:

So all in all, we need to at least check all bank credentials. But .. again, what if banks like Citi go bust ?

countrywomen from Washington, USA on October 29, 2008:

Good Hub. I never thought a day would come when we will be worried about our banks more than our personal finances...LOL

Dorsi Diaz (author) from The San Francisco Bay Area on October 23, 2008:

Thanks everyone for coming by, reading and commenting. These are scary times we live in. The more information we have about things like our banks the better decisions we can make in these tough economic times!

nancydodds1 from Houston, Texas on October 12, 2008:

Its very interesting and good information i got from your lens. Thsnks for sharing this information.

sherlynavia from United States on October 10, 2008:

Hi its very nice hub with good information.

luvnlyf on October 07, 2008:

So glad to hear that someone else is working on a cash basis--my husband and I have decided to do the same thing because of what we've been experiencing as well! Awesome!

pgrundy on October 06, 2008:

I've been thinking about just your system for awhile here, though I haven't implemented it yet. The thing is 1) they lie to us, and 2) no one really knows what will happen next, so 3) it's probably a good idea to look out for yourself and not trust your bank to be your friend or even be there.

Thanks for a good hub, food for thought!

Amanda Severn from UK on October 06, 2008:

And to think that it was sparked by the Clintons trying to help poorer people to get on the property ladder. This is surely the ultimate example of the Law of Unintended Consequences.

Chef Jeff from Universe, Milky Way, Outer Arm, Sol, Earth, Western Hemisphere, North America, Illinois, Chicago. on October 06, 2008:

Amanda - I've been reading a lot of European papers via

and I am stunned at how this cancer has spread!

Amanda Severn from UK on October 06, 2008:

Chef Jeff, Things are hotting up in Europe vis-a-vis the banks. More government intervention has been necessary in Germany and Iceland. Our stock exchange is trading lower and lower. Worrying times.

Chef Jeff from Universe, Milky Way, Outer Arm, Sol, Earth, Western Hemisphere, North America, Illinois, Chicago. on October 06, 2008:

Yes, several in our area are in trouble. I wonder what it'slike elsewhere?

Amanda Severn from UK on October 05, 2008:

Hi Dorsi,

I did away with my credit card around 15 years ago, and can honestly say it was a thoroughly sound decision. The less exposure we have to banks the better in my view. I have a lot of sympathy for the communities that have started their own alternative currency, and when I was researching my Lewes Pound hub, I was amazed at just how popular alternative currencies are becoming. I only listed a handful in my hub, but actually there are a great many out there, and some of them are extremely well-established. Perhaps we'll all end up as part of little fiefdoms using our own local coin, and accessing the banks only for business purposes. Who knows?

GJCody from Pittsburgh on October 04, 2008:

Very interesting hub. I remember the talk years ago about it boiling down to three banks and I wondered how that was going to happen. I also remember stating to a banker about how great it was that the interest rates were so low for buying a house and he said, "It is not good ...when they stay low too long the housing industry hurts." I could not understand the concept then but ... I guess someone knew what they were doing and it wasn't the little guy. As always ..the big guys win again!! Good hub best to your success!

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