SHOULD l CLOSE MY WASHINGTON MUTUAL SAVINGS ACCOUNT... ?????

Question

they are the next bank predicted to fail...

im worried about the possible hassels in the future if they are to fail...

and the conditions promised to me upon opening the account may be compromised...

is it a good idea to close the account now?

Answer 1

You will still be covered up to 100k for FDIC insured but do you really want to deal with the hassle if they do fail? My opinion would be to get it out and put it in something stronger like Bank of America or something.

Answer 2

Unless you have over $100,000 in the bank or unless you have it in funds that are not protected by FDIC, you have nothing to worry about. The money will be there even if the bank "Fails" That is why there is Federal Deposit Insurance ... to protect you.

Answer 3

You're fine unless you have over 100K.  People closing bank accounts out of panic can make a situation catastrophic.  It has happend in history.  Hang in there and keep the account