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Personal Finance and Investing

A HERETIC I AM

(24,365 posts)

1. You can either request a prospectus from the bank directly....

Reply to jwirr (Original post)

Sat May 9, 2015, 11:26 AM

May 2015

or perhaps it is online. They should provide you information as to how the funds are held. They may not call it a prospectus, but there should be some document disclosing how they handle the money.

I would give it better than a 75% chance your funds, co-mingled with similar, are invested, if at all, in nothing more risky than CD's or short term Treasuries.

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I moved my Social Security account out of banks and into Direct Express. This is supposedly an [View all] jwirr May 2015 OP

You can either request a prospectus from the bank directly.... A HERETIC I AM May 2015 #1

Why do you care? If for some ethical issue... TreasonousBastard May 2015 #2

It is very much about not wanting to support the robber barons. jwirr May 2015 #3

From my understanding the FDIC is grossly under funded....way more deposits snappyturtle May 2015 #8

That's commonly known, but if things get that bad... TreasonousBastard May 2015 #9

I disagree that it is "commonly" known. The banks scare the hell out of me... snappyturtle May 2015 #10

Are you needing your SS to live on? SheilaT May 2015 #4

Thank you. I do use it to live on every month. They give me a credit card and I pay my expenses jwirr May 2015 #5

Are there any fees attached to the card? SheilaT May 2015 #6

Not any to be a problem. $.75 for a copy of the statement. My original question was because I jwirr May 2015 #7