Question about Banks???

[homerj14]

Ok I get my paycheck from work every 2 weeks.. well usually I dont deposit at my downey savings Bank. I just cash it.. Well i was wondering Is the Bank sooner or later going to make me deposit money in? because when I cash the check its not like their getting Profit out of it I just take the money and go home and spend it or something... well thanks -John

 

[brady]

You should be ok if there are no monthly or annual charges for the account.

 

[homerj14]

nope No charges Probably because its more of a saving type Bank

 

[brady]

Then you are fine.

 

[Jorsoft]

A smart idea might be to get direct deposit and then check a checking account/debit card. Then when you aren't using the money at least it'll sit and earn interest instead of having cash laying around.

 

[kostas]

you're doing the right thing. i wouldn't leave any money in any bank unless i have to. it's better for it to be safe in your hands!

 

[homerj14]

well Banks are federally Insured Anyway up to 100k so you are safe to deposit

 

[DJ-CHRIS]

you're doing the right thing. i wouldn't leave any money in any bank unless i have to. it's better for it to be safe in your hands!

It's much safer in a bank TBH. Everything in electronic format is safer.

 

[horndude]

well Banks are federally Insured Anyway up to 100k so you are safe to deposit

when push comes to shove, FDIC doesnt mean squat.........if things are bad enough for it to even have to take effect then things are likely already so bad you wont be getting your money anyway.........on top of that M3 vs what americans have available as liquid cash arent even close

 

[Alex81388]

A smart idea might be to get direct deposit and then check a checking account/debit card. Then when you aren't using the money at least it'll sit and earn interest instead of having cash laying around.

To be able to use the Debit, you got to have a checking account. You rarely will find interest on a checking account.