8 Safest Banks To Bank With In The US (banks to keep your money in during a financial crisis)

Our personal list of the top 8 "safest" banks to bank within the US & why. Here's what I'll be covering in today's video:
- The four different types of “banks” our supersaver community uses
- Some of the key ways industry analysts determine the “health” of a bank &
- How & why we chose these 8 banks to keep your money during a financial crisis
- Which bank we moved our business & personal accounts to this week &
- What is a G-SIB (global systemically important bank), how is a G-SIB different than Silicon Valley Bank & why might a G-SIB be safer than a non-GSIB/ bank like SVB?

Plus a bonus safe tip #9 at the very end for those of you who are still concerned about the state of the banking industry at the moment.

SOURCES:

-------------
📢 We've launched! Get 15% off our brand-new bond courses thru 11:59PM ET on 4/30/2024 for Financial Literacy Month - enter coupon code bondfans2024 at checkout - see links below for more details!

________

DISCLAIMER

EVERYONE'S FINANCIAL JOURNEY IS DIFFERENT. YOUR PERSONAL FINANCIAL SITUATION IS UNIQUE. NEITHER DIAMOND NESTEGG, LLC, OUR WEBSITE, OUR YOUTUBE CHANNEL, OUR OTHER SOCIAL MEDIA CHANNELS, NOR THIS CONTENT & INFORMATION (THE “SERVICE”) ARE INTENDED TO PROVIDE FINANCIAL, LEGAL, TAX OR OTHER ADVICE. NO FINANCIAL DECISIONS SHOULD BE MADE SOLELY BASED ON THE SERVICE. THE SERVICE IS PROVIDED FOR INFORMATIONAL & ENTERTAINMENT PURPOSES ONLY & IS NOT INTENDED TO BE A SUBSTITUTE FOR ADVICE FROM A PROFESSIONAL FINANCIAL ADVISER OR QUALIFIED EXPERT.

ALL OPINIONS & FORWARD-LOOKING STATEMENTS OF THE SERVICE EXPRESSED HEREIN ARE AS OF THE DATE OF PUBLICATION & SUBJECT TO CHANGE. IT IS YOUR RESPONSIBILITY TO VERIFY ALL INFORMATION YOURSELF.

ANY INFORMATION PRESENTED BY THE SERVICE IS NOT AN OFFER TO BUY OR SELL, NOR A SOLICITATION TO BUY OR SELL ANY SECURITIES OR PRODUCTS MENTIONED. DIFFERENT INVESTMENTS HAVE VARYING DEGREES OF RISK & THERE IS NO ASSURANCE THAT THEY WILL BE SUITABLE FOR YOUR PORTFOLIO. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALWAYS CONSULT A QUALIFIED FINANCIAL, LEGAL, OR TAX PROFESSIONAL REGARDING YOUR SPECIFIC SITUATION.

DIAMOND NESTEGG, LLC IS A REGISTERED INVESTMENT ADVISER IN THE STATE OF NEW YORK AND OTHER STATES WHERE IT IS EXCLUDED OR EXEMPTED FROM REGISTRATION REQUIREMENTS. REGISTRATION AS AN INVESTMENT ADVISER DOES NOT CONSTITUTE AN ENDORSEMENT FROM SECURITIES REGULATORS.

DIAMOND NESTEGG, LLC RECEIVES COMPENSATION FROM YOUTUBE FOR THE PRESENCE OF ADVERTISING BEFORE, AFTER, AND DURING THIS VIDEO CONTENT AS WELL AS VIA YOUTUBE’S SUPER THANKS FEATURE. DIAMOND NESTEGG, LLC DOES NOT CONTROL THE CONTENT OR PRESENCE OF ANY ADVERTISEMENTS. THE PRESENCE OF ANY ADVERTISEMENT DOES NOT CONSTITUTE AN ENDORSEMENT OF THE AD, COMPANY, ENTITY, OR PRODUCT BY DIAMOND NESTEGG, LLC.

----------

CONTENT DISCLAIMER

THE VIEWS & OPINIONS EXPRESSED THROUGH THE SERVICE ARE SOLELY THOSE OF DIAMOND NESTEGG, UNLESS OTHERWISE SPECIFICALLY CITED. MATERIAL PRESENTED IS BELIEVED TO BE FROM RELIABLE SOURCES & NO REPRESENTATIONS ARE MADE BY DIAMOND NESTEGG AS TO OTHER PARTIES' INFORMATIONAL ACCURACY OR COMPLETENESS. ALL INFORMATION OR IDEAS PROVIDED SHOULD BE DISCUSSED IN DETAIL WITH A QUALIFIED ADVISER, TAX OR LEGAL PROFESSIONAL PRIOR TO IMPLEMENTATION.

OUR YOUTUBE CHANNEL MAY PROVIDE LINKS TO THIRD-PARTY WEBSITES FOR YOUR CONVENIENCE. WE HAVE NO CONTROL OVER THE ACCURACY OR CONTENT OF THESE LINKS.

THE COMMENTS ON THIS CHANNEL, AND OUR OTHER SOCIAL MEDIA CHANNELS, ARE THOSE OF THE CREATORS & DO NOT NECESSARILY REFLECT THE VIEWS & OPINIONS HELD BY DIAMOND NESTEGG, LLC.

DUE TO THE SOCIAL NATURE OF THE SERVICE, THESE VIDEOS MAY CONTAIN CONTENT COPYRIGHTED BY ANOTHER PERSON OR ENTITY. DIAMOND NESTEGG, LLC CLAIMS NO COPYRIGHT TO SAID CONTENT & CANNOT BE HELD ACCOUNTABLE FOR THE COPYRIGHTED CONTENT. DIAMOND NESTEGG SHARES & STRIVES TO VERIFY INFORMATION BUT CANNOT WARRANT THE ACCURACY OF COPYRIGHTS OR COMPLETENESS OF THE INFORMATION ON OUR SERVICE. ANY COPYRIGHTED MATERIAL SHARED ON THIS SERVICE IS INTENDED TO BE SHARED BY FAIR USE. IF YOU HAVE A COMPLAINT ABOUT THE USE OF COPYRIGHTED MATERIAL, PLEASE CONTACT DIAMOND NESTEGG PRIOR TO MAKING A COPYRIGHT CLAIM. ANY INFRINGEMENT IS UNINTENTIONAL & WILL BE RECTIFIED TO ALL PARTIES' SATISFACTION.

PLEASE REFER TO OUR TERMS OF SERVICE & PRIVACY POLICY LINKS FROM OUR WEBSITE FOR MORE INFORMATION.

[DiamondNestEgg]

📢 We've launched! Get 15% off our brand-new bond courses thru 11:59PM ET on 4/30/2024 for Financial Literacy Month - enter coupon code bondfans2024 at checkout - see links below for more details!

⭐ Bond Beginners (our foundational-level bond course):

⭐ Bond Masters (our intermediate-level bond course):




Thanks for visiting our personal finance channel! We hope this free content will help fast-track your financial journey! Everyone's financial journey is different. Please note that there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances.

[sherryBLUE]

I do not trust banks. We use a Credit Union. They are like family. We trust them.

[revenadawson]

I used to keep my money in Bank of America until they started with the $25 a month fee on a checking account with a lower balance. And then they started charging five dollars a month fee on a savings account with a low balance. I told my husband if I only had $300 in the checking account in six months if I never touched that money, the fees would eat that $300…that is when I closed that account.

[davidtvedte]

I want to recommend that we support our small local "Banks". Make sure you are not over the FDIC limits. Also make sure you have liquid assets available from more than one "Bank". The big "Banks" already have a huge control of the "Banking" system. If too many people started emptying out their local "Bank" accounts, this run on the "Banks" would create unnecessary "Bank" failures.

[savioursoul]

Chase doesn’t pay any interest. Big banks are the WORST.

[TheOnlyRedNeckGeek]

The last straw in my relationship with Bank of America came when I went to my branch to get some answers from a person, face-to-face. The teller sat me down in front of her desk, picked up a phone, dialed a number, and handed me the receiver. I handed it back to her, walked out of the branch, and transferred my holdings later that week. That was several years ago, and I've been a happy Chase customer ever since.

[TheNamche]

The timing of your FDIC/SIPC series was eerily well timed. Thank you 👍🏻

[TSidez]

The flight to large banks for safety will lead to less competition and higher costs for depositors.

[nancyumass]

You are so good at explaining very complex issues. I worry that taking your money out of local community banks will put them out of business when they would have survived if there was not a run on them. Think about which bank actually invests in your community as well as the points you raise. Thank you

[tacocruiser]

If everyone moved their money from regional banks to the "g-sibs", our country would be in big trouble. The regional banks play a crucial role in the U.S. economy that the g-sibs can't replace.

[ita]

Put any money you have under the mattress. It pays about the same rate of interest banks will pay you.

[baddad]

Wow! You are so awesome! I did a ton of research myself over the last 2 weeks, with a preference/bias towards supporting local and regional banks. Your research is so well structured and rational I will for sure take it into consideration. We are so fortunate to have you sharing your experience and knowledge with us!!! Thank you for all that you are doing!

[glow]

First time watching banks video. Very informative! Thank you

[itchypandaa]

I'd love to see a video like this about credit unions :) I prefer non-profits

[jimk]

This content is legit - and rather apocalyptic. I'm VERY comfortable parking cash in my local bank's 4.5% money market account (FDIC-insured) vs. Chase at 0.02% APY.

[garyviejogringo]

Thank you for your consistently responsible financial coverage. There are too many YT channels that are fear mongers. Thank you for being you.

[LarryDickman]

Nice well conveyed information about banks. I have been using Credit Unions since the Savings and Loan meltdown. They are the real community banks.
I keep a couple of grand in small bills at home. After an ice storm knocked out power for a couple of weeks, cash was king. No electronic transactions could be made. Gas stations and stores had large back up generators. My cash came in handy. I ate well and could get fuel to get to my work in another of the county.

[Megan-nscu]

Another impecable and informative video. You are on the roll, thanks for your dedication, Jennifer!

[numberoneduchess]

If you really want to keep your money safe, use an investment bank. They won't finance tour next car, but you can have a checking and savings account that is totally safe, plus be able to occasionally purchase a few shares of your favorite company. I recommend Fidelity. It won't hurt to look into it.

[mikesorensen]

I think it’s good to spread your money to different banks, big bank, local 👍