Good Idea To Open A Bank Account? Or Not?

[Juxtaroberto]

So, I got my very first paycheck yesterday in the mail. =D I worked the election polls in March for one day and I made $105, which is pretty good for a day's work on my first job if you ask me.

See, I kind of wanted to invest it in a bank, but is that really such a good idea in our current situation?

If it's worth it, which bank should I open an account with? I really don't want to open an account with a bank that's gonna go under two days later.

Thanks.

 

[haynchinook334]

just cash it and invest in a piggy bank.

 

[rmorse]

It's fine. The FDIC expanded their protection amount from $100,000 to $150,000 for a period of time, in response to the current economy. Just put it in a bank that has the FDIC sign on it, and you are golden. Basically, what that means is that if the bank goes under, the Fed will refund you your money up to 150k. So, just don't deposit more then 150k =)

 

[armac]

It's fine. The FDIC expanded their protection amount from $100,000 to $150,000 for a period of time, in response to the current economy. Just put it in a bank that has the FDIC sign on it, and you are golden. Basically, what that means is that if the bank goes under, the Fed will refund you your money up to 150k. So, just don't deposit more then 150k =)

Pretty close, the upper limit insurance is $250,000 up until 12/31/09.

I would not open an account I would get more hair straightening done.

 

[rmorse]

Pretty close, the upper limit insurance is $250,000 up until 12/31/09.

I would not open an account I would get more hair straightening done.

Oh, really? Did they expand it again, or did I just have the wrong number completely?

 

[armac]

wrong number

 

[xdragonxb0i]

wouldn't invest it into the back. They say money in a bank is improperly invest it

Your return is rubbish like 5% a year

Invest it in a pair of breedng fish and sale them baby have a greater return thenbank interest

 

[JD7.62]

How do you "invest" $105 any way?

I say go with some blow and a cheap hooker.

 

[armac]

wouldn't invest it into the back. They say money in a bank is improperly invest it

Your return is rubbish like 5% a year

Invest it in a pair of breedng fish and sale them baby have a greater return thenbank interest

where can you get 5% with 105 dollars initial investment?

 

[Juxtaroberto]

How do you "invest" $105 any way?

I say go with some blow and a cheap hooker.

I'm sure after I have to pay to have pubic crabs eradicated and syphilis treated it'll make that "investment" a lot more expensive that it seemed.