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  • Overall, I believe that it's safe to keep your money in the bank.

    Although there is credit card fraud and the bank won't always refund you the money that was taken, these events are generally not very common. Keeping cash on hand can also be dangerous as people can misplace it, be short changed at the store, be robbed for it or it can burn up if there is a house fire and it's not placed in a fire proof safe.

  • Yes, Banks Are Safe

    Most banks are insured by the Federal Deposit Insurance Commission, or FDIC, meaning that the federal government ensures up to $250,000 in every deposit account held by the bank. Thus, in addition to very tight capital and reserves requirements banks must adhere to, there is an additional backstop against loss by the federal government.

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