Banks stocks going into the negatives?
I’ve noticed a lot of Banks like First Citizens, Wells Fargo etc. stocks are all dipping into red negatives since beginning of this year. Should I be concerned if I have a checking/savings account with one of these?
- StephenWeinsteinLv 73 months ago
Not unless you have over a quarter of a million dollars. Even if the bank fails, the federal government guarantees $250,000 per person.
- RichardLv 73 months ago
Virtually all US banks are insured by the Federal Deposit Insurance Corporation.
- Casey YLv 73 months ago
If your deposits exceed the FDIC limit...then have a discussion with the bank about Excess Deposit Insurance...basically buying insurance to increase the FDIC limit.
- JudyLv 73 months ago
No, it doesn't affect their operations.
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- ScottLv 73 months ago
No. Your deposits are protected.
- 3 months ago
Banks are not going to go out of business because their stocks are priced lower. The only time a business of any kind is involved with the stock is when it is initially sold as part ownership in the company and the company receives the price of the initial offering. (Or when the company actually buys back it's own stock which makes it stronger.)
- 3 months ago
No you shouldn't be worried.
- Anonymous3 months ago
They are all federally insured. Unless you have over $250k. Not sure what the negatives you are talking about are.
I use online banks & local credit unions for the best deals. I fear NONE of them. Almost nobody loses money in a bank. In the worst cases, another bank takes them over and there is no disruption or loss for funds. Not even for a day.