Bank Accounts Emptied In Minutes | WARNING

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  • Опубліковано 13 гру 2024

КОМЕНТАРІ • 162

  • @nilsonshn67
    @nilsonshn67 Місяць тому +21

    FDIC insurance only covers accounts when the bank fails. It does not cover losses due to theft, fraud, identity theft, or online fraud.

    • @johnnagle7702
      @johnnagle7702 Місяць тому +1

      Or force majeure

    • @myway2653
      @myway2653 Місяць тому +1

      Not true

    • @rdkuless
      @rdkuless 22 дні тому

      I took all the AmericanInstitute(of)Banking courses... what i learned:
      The FDIC has upto (6) SIX years to pay out just .06 cents on every $100 deposited in the FDIC insured account. (math) that is only $60 on every $10k you have deposited and the FDIC has six year to send you a check. Think about how you are going to survive over the next 6 years waiting on a check from a collapsed FDIC Bank Account.. If all the banks fail, where are you going to take your check to to get cash..? FDIC is a sham.. i learned this in 1980..
      Last report: After the 3 major banks failed in California. The FDIC has no more money to pay out claims.. they are upside down.. and the report said that 50% of small banks are also upside down.. that means they owe more than they have in reserves (cash). Banks are only required to keep 10% in reserve... 90% they use to make new loans... if you deposit $100, they loan out $90... that money is paid to someone ... that person deposits the $90 and the bank loans out 90% of the $90... Do you see how this works, they don't have the cash to reimburse you..? You cannot walk into a bank anymore and say, "i want to withdraw all my money if it is more than a couple thousand.. they don't have access.. and now they require you to tell them how you plan to spend it.. BTW that is none of their business..but...you see where this is going.. i believe everyone should have cash on hand to spend in the event of an emergency.. I believe everyone needs to stop using digital money (credit/debt cards) to make purchases. I always deposit my paycheck.. I leave just enough to cover the rent/utilities checks.. I take the rest in cash back and only use cash to purchase groceries and consumer goods.. I have a fire proof safe that is lag bolted from the inside to the floor (so it cannot be removed unless you have the combination to open the safe)
      I've seen businesses that won't accept cash anymore.. I b o y c o t t those E S G businesses... for this reason, "you won't be able to buy or sell without it". i believe they are transitioning to the C B D C for a reason.. And only patronizing business that accept cash will greatly slow down that agenda.. May God be with you and your family..

  • @katz20200
    @katz20200 Місяць тому +29

    It's very important to have actual cash on hand for times when businesses are cash only during emergencies. I went through this a few weeks ago after Helene hit my area. For about 5 days the few businesses that were open were only taking cash. It's important to have small denominations, too.

    • @AzulWells
      @AzulWells  Місяць тому +6

      Super important reminder for all of us. Thank you for sharing your recent experience. I hope everything went as well as it could. Azul

    • @kaydublin5164
      @kaydublin5164 Місяць тому

      Absolutely

    • @BREEZYM6015
      @BREEZYM6015 Місяць тому

      How much cash should a person keep at home? A few hundred dollars?

    • @shhletsgohurryup5736
      @shhletsgohurryup5736 Місяць тому +2

      Few thousand

  • @joeholloway4558
    @joeholloway4558 Місяць тому +4

    Had a bank freeze my atm card while I was out of state on a motorcycle ride. It was the weekend, and they didn't have anyone available that could restore service until the following Monday. The same bank locked my wifes ATM card while traveling in Mexico. After 20+ years with them, I now have a different bank/credit union.

  • @miamivicefanatic9736
    @miamivicefanatic9736 Місяць тому +9

    In addition to accounts with multiple banks, I have IRAs with multiple custodians, and I have annuities with multiple life insurance companies. I like diversification.

  • @timbain2762
    @timbain2762 Місяць тому +37

    "Bank accounts emptied in minutes"? Seems pretty heavy on the click-bait when comparing the title with the topic discussed.

    • @Homepageturned
      @Homepageturned Місяць тому

      It won't happen like that.
      You will wake up on a Monday morning and it will all be gone. History does repeat itself.

  • @machintelligence
    @machintelligence Місяць тому +32

    Call me desperately old school, but I refuse to set up online banking on any of my bank accounts.
    I don't use debit cards either.

    • @martinlord8837
      @martinlord8837 Місяць тому +2

      How do you buy airline tickets and pay for hotels? No one accepts checks anymore and carrying a lot of cash is a bad idea.

    • @machintelligence
      @machintelligence Місяць тому

      @@martinlord8837 What leads you to believe that my credit cards are somehow tied to my bank accounts? They aren't even at the same banks.

    • @smar1968
      @smar1968 Місяць тому +1

      I've never had a debit card either, drives the bank crazy :)

    • @johnwinnerdz1
      @johnwinnerdz1 Місяць тому

      People still take cheques get a secured (gold seal)chequing account. Generally these are for purchase over $10,000.00
      I use one account for online banking and only put small amounts of money in it or fill it up for online purchases or transfer . Credit cards are insured . And I don't do tap on debit cards . Lots of cell phone hackers or spy ware home computer hackers. Canada really needs analog services for Healthcare and many non essential services. What's the big deal of moving a hard copy file to different offices .

    • @joycef8443
      @joycef8443 18 днів тому

      @@smar1968I have one, never used it.

  • @L.V.1
    @L.V.1 Місяць тому +20

    Azul, you really need to do something about the scammer posts on all your videos. You can police your comments and delete them.

    • @karensmith3227
      @karensmith3227 24 дні тому +2

      They are literally everywhere! They are irritating to say the least.

  • @albie567
    @albie567 Місяць тому +12

    If you have a lot of eggs, place those eggs in several baskets. And have different keys (passwords/auth) for each basket.

    • @miketheyunggod2534
      @miketheyunggod2534 Місяць тому +2

      I never do online banking.

    • @martinlord8837
      @martinlord8837 Місяць тому

      @@miketheyunggod2534 Ridiculous. You do everything over the phone? How is that safer?

    • @BREEZYM6015
      @BREEZYM6015 Місяць тому

      Am I supposed to have multiple checking accounts? Not gonna happen. 😂

  • @bobadams7654
    @bobadams7654 Місяць тому +23

    SCAMMERS posting. Give them thumbs down and REPORT THEM.

    • @tangyjoe4326
      @tangyjoe4326 Місяць тому +6

      I’ve been doing this for a while whenever I see those “Oh, how can I contact your financial advisor” posts. On one channel they’re so prevalent I’ve been wondering if that’s the point of some of these channels. That the video is just an intentional platform for this kind of “advertising”.

  • @Jimfundercover2
    @Jimfundercover2 Місяць тому +3

    I have alerts on all my bank accounts. I get notified when money is deposited or withdrawn over a certain limit. I also get notified when the balance in my accounts fall below a certain limit.

  • @dixiebrick
    @dixiebrick Місяць тому +9

    This is the very reason that I track my bills and know when they should be paid and why I have cash on hand to pay these bills if need be. I copy my bills for the reason I may have to mail them again.

    • @BREEZYM6015
      @BREEZYM6015 Місяць тому

      Do you take your bills to the store to pay them? I use autopay and have direct deposit.

  • @miken7629
    @miken7629 Місяць тому +8

    Keep emergency cash at home in a firebox, during power outages ATMs, cell phones, internet, water/sewer don't work, business only accept cash, I keep $5000 cash to handle 2-3 months

  • @jwillard911
    @jwillard911 Місяць тому +8

    FDIC does not have enough money to cover everyone.

    • @jonshygye5005
      @jonshygye5005 Місяць тому

      The FDIC puts in money to facilitate bank mergers. Just look at the great recession.

    • @Leftists_are_Losers
      @Leftists_are_Losers Місяць тому +2

      Only the rich and well connected will be reimbursed.
      The little guy will “take in the shorts”.

    • @jdean2131
      @jdean2131 Місяць тому +2

      But they do have enough to cover any losses to our politicians…let that sink in for a minute…

  • @maryannbennett8602
    @maryannbennett8602 Місяць тому +6

    Thank you Azul for all the good content! 😊

  • @davidpowell3347
    @davidpowell3347 Місяць тому +4

    Remember "American Express Traveler's Checks: Don't leave home without them !"
    Financial houses and banks should set up their customer secure web pages to read something like "System down,balance not available" or "Balance not available because of system maintenance" when the system isn't capable of displaying balances instead of showing "zero balance"

    • @greggrose6802
      @greggrose6802 Місяць тому

      I had some american express traveler checks. Had to cash in.

  • @johnwinnerdz1
    @johnwinnerdz1 Місяць тому +1

    Chequing accounts still work, get a gold seal cheques for purchases or transfers over $10000. Use only one account for online banking and dont use that account for savings or cheqing storage . Credit cards are insured for online purchases and dont use tap on debit cards.

    • @johnwinnerdz1
      @johnwinnerdz1 Місяць тому

      Canada really needs to do and system analysis to decide which agencies can go back to analog. Like doctor info etc....

    • @Margi183
      @Margi183 23 дні тому

      Why should one not use tap on debit cards?

  • @deciduous_99
    @deciduous_99 Місяць тому +4

    I keep a reserve of cash on hand for just such a risk. Electrical grid down etc. but still need to function.
    Until I retired I wanted at least one payroll cycle amount in cash for same reason.
    I know for the most part such a worry may be more of a remote risk, but I feel better being prepared.
    If some hacking (or like the recent global software problem) creates a problem using credit cards - I’m in better shape with having cash.

    • @AzulWells
      @AzulWells  Місяць тому

      Better to have prepared and not needed to then the other way around. I think you are smart .... Azul

    • @deciduous_99
      @deciduous_99 Місяць тому

      @@AzulWells appreciate it Azul.
      Now I just have to start acting on your advice to allow myself to spend in retirement! I’ll get there before too much longer👍

  • @0annonymous
    @0annonymous Місяць тому +1

    Is it possible someone may be stealing?

  • @Qrayon
    @Qrayon 21 день тому

    I've always had more than one bank account, but if both accounts were frozen, or if I found that for some unknown reason my balance were zero, I would still be able to survive. Why? Because I'm smart enough to have enough cash on hand to cover my expenses for awhile. If you're one of the many people, especially young people, who think they're smart that they never carry cash, you've just heard in this video what can happen to you.
    I also have two or three months worth of storable food just in case for some reason the stores run out of food, or if for some reason I'm not able to buy any.
    A word to the wise is sufficient.

  • @toantruong7901
    @toantruong7901 Місяць тому

    It happened to me once that my checking n saving showed $0 balance when I checked at 2 AM and I believe the reason was that the system was taken down for maintenance. Typically the database system is designed in redundant architecture where one is online while the other is being worked on, but I guess there was a glitch that both database had taken down. Just a guess.
    I checked again around 6 AM and both accounts were fine with correct balances.

  • @davematsch5318
    @davematsch5318 Місяць тому

    If you lose your CC or it's stolen or if the CC app/company has been hacked or there's an EMP/CME...keep some physical cash at home!!!

  • @kuttanr7423
    @kuttanr7423 Місяць тому +1

    This year first working day in Jan this happened to me with chase bank Terrible 😢

  • @lisamiller-hf4lc
    @lisamiller-hf4lc Місяць тому

    Hi Azul, I hear conflicting advice about having an overall relationship with an AUM 1% fee band based advisor (e.g. Chase Private Client) vs. a fee-only advisor vs. a tax advisor. I'm confused about who/where I am better off with my advice on retirement investing. Could you do a segment to explain that?

    • @bfdee1603
      @bfdee1603 Місяць тому

      What does he know? He is not educated in financial field, he become a financial advisor by self proclamation🤣 i wouldnt trust him with my meager savings😂😂😂

  • @BREEZYM6015
    @BREEZYM6015 Місяць тому

    I use a small bank where I live.

  • @romanhollow2985
    @romanhollow2985 Місяць тому +2

    Sounds like a hacker's dry run.

  • @tombray3169
    @tombray3169 Місяць тому

    I'm in canada and turn all ways to transfer money out of my accounts if someone may get into my online backing .my accounts can only be withdrawn at the branch only .

  • @livingunashamed4869
    @livingunashamed4869 Місяць тому +2

    Is joint accounts insured for 500k?

    • @Steve56-w9r
      @Steve56-w9r Місяць тому

      FDIC insurance is against bank failure, not fraud. At least as far as I know.

    • @Steve56-w9r
      @Steve56-w9r Місяць тому +1

      But yes, joint accounts are insured for $500k

    • @1127brighton
      @1127brighton Місяць тому +2

      no, each account is insured up to $250,000 joint or individual. If you have more money than that you should open another account.

    • @Steve56-w9r
      @Steve56-w9r Місяць тому

      It's $250k per co-owner per account type. Joint account is 2 co-owners, so each person is covered for $250k for a combined $500k

    • @AzulWells
      @AzulWells  Місяць тому +2

      This might help (FAQ on the topic by the FDIC themselves).
      www.fdic.gov/financial-institution-employees-guide-deposit-insurance/joint-accounts#:~:text=Rules%3A,IDI%20records%20clearly%20indicate%20otherwise.

  • @newtuber4freedom43
    @newtuber4freedom43 Місяць тому

    Great topic! Oh how fun - you suggested the very first video of yours that I ever saw and liked so much that I subscribed!! ☮️💟

  • @retthok
    @retthok Місяць тому +1

    Happened to me at another major bank. I went to my account online just for the heck of it and surprise surprise my $4000. checking account showed $0.00 balance. This really sucks and how would I prove they are at fault for FDIC purposes? Anyway, the money magically reappeared after an hour. It seems this could happen anytime and at any bank. Very unsettling. What if your large IRA disappears through no fault of your own? And doesn't "reappear'?

    • @martinlord8837
      @martinlord8837 Місяць тому +2

      You still have monthly statements and all the transactions are available. Money doesn't "vanish". There's a big difference between phones/computers not being able to access your account temporarily and someone emptying your account.

  • @Denise-tt1hq
    @Denise-tt1hq Місяць тому

    Herbert W Armstrong was right.

  • @squirrelcovers6340
    @squirrelcovers6340 Місяць тому

    I use cash. No problems.

  • @miketheyunggod2534
    @miketheyunggod2534 Місяць тому +3

    A financial advisor would know about emptying bank accounts. That’s what they do for a living.

  • @striperking6083
    @striperking6083 Місяць тому

    Wonder how much Hertz paid Brady to do that commercial . Anybody know ?

  • @ConradSNIPER
    @ConradSNIPER Місяць тому

    Use bank account not internet-link.

  • @bryanwittenburg7171
    @bryanwittenburg7171 Місяць тому +1

    Don’t be a cashless individual. Only a fool would do that

  • @ritalamsley6846
    @ritalamsley6846 18 днів тому

    Thats my account every day

  • @bryanwittenburg7171
    @bryanwittenburg7171 Місяць тому

    Cash at home helps me sleep better

  • @erikeippel
    @erikeippel Місяць тому +1

    😢

  • @Robin-h6j
    @Robin-h6j Місяць тому

    2025, americans have cash, gold and silver, going to be a bumpy ride, if you know what I mean!

  • @Ephemeral2023
    @Ephemeral2023 Місяць тому

    Lost me at $250,000

  • @greggpurviance7252
    @greggpurviance7252 Місяць тому +1

    Multiple banks don't fix a global digital breakdown. Cash is king

    • @circrna
      @circrna Місяць тому

      Ok. I will keep my two hundred thousand dollars under my pillow.

  • @johnnagle7702
    @johnnagle7702 Місяць тому

    Fdic insurance 😂

  • @Walmart_Driver_Mentor
    @Walmart_Driver_Mentor Місяць тому +1

    MAGA 2024 💪

  • @sherrih6187
    @sherrih6187 27 днів тому

    300..that's my average daily balance 😂

  • @ann-ie4hc
    @ann-ie4hc Місяць тому +15

    I'm new to investing, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.

    • @Ethangray-cr5nd
      @Ethangray-cr5nd Місяць тому +5

      As a beginner investor, it's essential for you to have a mentor to keep you accountable. Melanie Ann Karnavas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessment, ensuring my trades decisions align with market dynamics for optimal returns.

    • @KN0852
      @KN0852 Місяць тому +3

      The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

    • @Vlad-ei3bs
      @Vlad-ei3bs Місяць тому +3

      Yes, I agree with you. Her platform is wonderful and her strategies are exceptional.

    • @ann-ie4hc
      @ann-ie4hc Місяць тому +1

      I'm new at this, please how can I reach out to her easily?

    • @Ethangray-cr5nd
      @Ethangray-cr5nd Місяць тому +2

      She's on face book, look up her name👇

  • @OliviaSteven81
    @OliviaSteven81 Місяць тому +9

    *If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation.*

    • @LeoButler019
      @LeoButler019 Місяць тому +1

      I started investing in crypto and def earlier this year and it's the best decision I've ever made. My portfolio is now worth almost a million and I've realized that if a cryptocurrency hits the news, you're probably pretty late to the game. The idea is to get in on blue chips early before they go public. There are a lot of life-changing opportunities in the market that you should make the most of.

    • @KarenJohn-k8u
      @KarenJohn-k8u Місяць тому

      Waking up every 14th of each month to $30,000 it's a blessing to I and my family... Big gratitude to Michael Wayne 🙌

    • @AndersonMcKinney
      @AndersonMcKinney Місяць тому

      nice! once you hit a big milestone, the next comes easier. How can I reach him, if you don't mind me asking?

    • @Benjaminfreedman-l6r
      @Benjaminfreedman-l6r Місяць тому

      Put the numbers together. UA-cam is frustrating when inserting numbers

    • @Benjaminfreedman-l6r
      @Benjaminfreedman-l6r Місяць тому

      That's his WHAT'SAPPS 🇺🇸🇺🇸🇺🇸

  • @DavidAnthony6559
    @DavidAnthony6559 Місяць тому +41

    I'm so happy I made productive decisions about my finances that changed my life forever. I'm 51 living in Melbourne Australia, bought my new mansion in August and hoping to do more if things keep going smoothly for me..

    • @Thandisebe9054
      @Thandisebe9054 Місяць тому +1

      Congratulations dear. You're really doing well for yourself, I'm 49 and my financial life is in a mess. Any great tips would really go a long way in shaping my life. I want to buy my own house, that's really a big flex

    • @DavidAnthony6559
      @DavidAnthony6559 Місяць тому +2

      Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.

    • @MaxineWilliam6513
      @MaxineWilliam6513 Місяць тому +1

      My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience

    • @OliviaEmily5
      @OliviaEmily5 Місяць тому +1

      If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation

    • @CharlotteAmelia0982
      @CharlotteAmelia0982 Місяць тому +1

      How can i reach this Tracy Britt Cool Consulting, if you don't mind me asking? I've known her by her reputation at Berkshire Hathaway

  • @YaoAnne-j7g
    @YaoAnne-j7g Місяць тому +1

    !!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated

    • @AnastasiaAngelinaPetrova
      @AnastasiaAngelinaPetrova Місяць тому

      I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.

    • @HaholBarton
      @HaholBarton Місяць тому

      I don't really blame people who panic. Lack of
      information can be a big hurdle. I've been
      making more than $100k passively by just
      investing through an advisor, and I don't have
      to do much work. Inflation or no inflation, my
      finances remain secure. So I really don't blame
      people who panic.

    • @AnastasiaAngelinaPetrova
      @AnastasiaAngelinaPetrova Місяць тому

      Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.

    • @YaoAnne-j7g
      @YaoAnne-j7g Місяць тому

      nice! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?

    • @AnastasiaAngelinaPetrova
      @AnastasiaAngelinaPetrova Місяць тому

      look up her name on the web for her website.