If you have your money in a bank, and the bank collapses or fails, what happens to your money?

Question

If you have your money in a bank, and the bank collapses or fails, what happens to your money?

Answer 1

remember in history there was the great depression, people scrambled to banks to withdraw money but there weren't any left? well now we are protected by the fdic, a government agency designed to protect us from another situation like that.

Answer 2

No idea, but I've never trusted banks..it is best to keep those sorts of valuables stored in a safe at home

Answer 3

Almost all banks are FDIC (US Gov) members. That provides depositors with up to $100,000 insurance should the bank fail. As long as you do not have more than $100,000 in one account at the bank, your money will be available.