What to do NOW if you have more than $ 100.000 in a savings in INDYMAC bank?

Question

I need advice for trying to save the money. It is a lot more than $ 100.000 and worried it might not be recovered because it is only covered up to $ 100,000.00 by the FDIC. What would be the best FAST action plan for this morning. Money transfer? Writing checks? FAST advice PLEASE???Anyone?

Answer 1

Call the FDIC now at 866-806-5919 and make an appointment to speak with a claims agent.

Is this money in a joint account, perhaps? If so, you would be covered up to $200,000.

FDIC is making an immediate payment of 50% of uninsured funds. The balance will depend on how much they salvage ftom sale of the bank.

Answer 2

Follow SDD advice. That is the first thing. Fortunate for you that this the first major bank to fail this year so the FDIC has the funds.  Worst case scenario you get the 100k plus 50% of anything over 100k. Now if it was an IRA- it was insured up to 250k.

Hope this helps

Answer 3

This is why you must diversify when you have that much money. But Yes, SDD is right on. Give them the best answer. :)

Answer 4

I think it's too late.  The bank has already failed, and the money is probably gone.

Answer 5

Please update us on your situation!

i'm an indymac bank customer as well...