Indymac is down and I have several different accounts, eaching holding money, with them.?

Question

Since today, Indymac got taken over, what will happen to the money that i had with them? Will I get my money back and how long will i have to wait?

Answer 1

Did you even try going to the Web site? There's plenty of information right there that will answer all your questions:

http://www.indymacbank.com/

Answer 2

Govt says they will reopen in receivership Monday.  Since accounts are insured, you should be OK.  Expect a huge traffic jam Monday as all the panicers pull their money out.

uu

Answer 3

The FDIC seized the bank on F 07-11-2008 (eve) after the market was closed and everyone was home.

Reuters reports, this is the "2nd biggest bank failure in US history."

The FDIC has ONLY $53 billion insurance fund. That's a heck of a lot less capital than I thought.

The FDIC estimates they will have to shell out "between $4 billion and $8 billion" to make qualifying depositors whole.

If you have under $100,000 total in your name the FDIC will be in touch. You can try to withdraw the money, electronic transfer to another bank, or write a check and open another account FAST - like Saturday 07-12-08.

Maybe you won't have to wait for the FDIC.

http://www.reuters.com/article/gc06/idUS...

There is about 4% of Indymac depositors that will not be eligible for FDIC insurance.

http://answers.yahoo.com/question/index;...