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Would you keep your money in 1 bank or 20 banks if you had $20 million.

Discussion in 'BlackHat Lounge' started by SeoNuuby, Nov 13, 2012.

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  1. SeoNuuby

    SeoNuuby BANNED BANNED

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    Ok, there is 20 banks in my country that are top banks and I don't think they will ever go down, atleast not anytime soon.

    Suppose I have $20 million, you think if I keep $1 million in each bank, do you think it's safe ? Vs keeping all in 1 single bank that I trust.

    The good side is that if one bank goes down, I still have $19 million left.

    The bad side is that, there is more chance I loose $1 million than if I just keep in 1 bank.
    Another bad side is that, I will have to keep relationships with tons of banks.

    So, what would you do if you have $20 million, would you keep in 1 bank or 20 banks.

    It's a poll, please answer and give reason (if you want) for your answer.

    Thanks
     
  2. ButcherPete

    ButcherPete Regular Member

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    I would keep it in one FDIC-insured bank.
     
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  3. Scripteen

    Scripteen Elite Member

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    Where is the poll? I'd say 2-4 banks max to save time keeping up with 20 locations / cards / online log ins.
     
  4. BHopkins

    BHopkins Moderator Staff Member Moderator Jr. VIP

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    FDIC insures $250k per account.
     
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  5. dunhill

    dunhill Power Member

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    give it to me man.. i will keep it for u..
     
  6. SeoNuuby

    SeoNuuby BANNED BANNED

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    the gov insured bank only insure $50,000
     
    Last edited: Nov 13, 2012
  7. SEOLair

    SEOLair Regular Member

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    Depends on interest rates...
     
  8. Wings[SENSE]

    Wings[SENSE] Regular Member

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    No way in hell I'm keeping $20 Millions in one bank. YOu can be sure I'm opening bank accounts in countries like Singapore, Chypre, etc. and spreading my money. If shit happens somewhere you always have a back up.
     
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  9. erniedawg

    erniedawg Junior Member

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    FDIC insurance only covers 1 million. I'd do 20banks or maybe split it between 3 very large banks.
     
  10. Leith

    Leith Jr. Executive VIP Jr. VIP Premium Member

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    Il split it to 4 banks or even just do all 20, although that might be a hassle.

    Or alternatively, you can forward the money to my bank account and I assure you the money will be 100% safe... for a few days. ;)
     
  11. AnotherOne

    AnotherOne Senior Member

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    Or you can try 'that' corrupt institution where every corrupt political leader stores his money.
     
  12. Cas87

    Cas87 Regular Member

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    I would split some between a few banks here (UK) ...

    I wouldalso spend at least 5 Million on properties for rental, get around 50 cheap £100,000 houses to rent out & generate around £17,500-£22,500 a month..and have someone manage them...
     
  13. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    You had another similar topic today and you got answers. Are you high?

    Thread closed.
     
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