Wachovia Leads Banks Down

CDs in the name of our revocable living trust

Per FDIC we should be insured up to $1 million. We currently have four 5-yr CD's at $100,000 each with Wachovia. How safe are these?

James Smith of AL @ Sep 17, 2008 18:58:24 PM

cd insurance coverage

I have ab out 250,000 in credit union cds, all in my name, but subdivided as for example "intrust for, beneficiaries,l etc. Are tthe funds guaranteed under the 100,000 limit.? Thank you.

milton silverstein of NY @ Sep 16, 2008 21:05:26 PM

FDIC coverage

I was told by a company selling annuities that even if your savings are covered by FDIC insurance in a loss situation it may take 8 years plus to see any money. I assume as the FDIC get more claims this will get worse. If you are already at or close to retirement this is a long time. Is there any truth to this? Also I wonder if IRAs are safe, all mine are with Wachovia and I am truly worried now.

Mike of FL @ Aug 12, 2008 09:02:18 AM

Article

Nothing like the media fanning the flames to make a bad situation worse. People are going to panic and that is the worst thing. We need to all pull together and weather this storm. Once the slide starts, only the first few to react make money. The remainder are the ones to loose. Case in point...9/11. Those who stayed put ended up making money.

Gary of MD @ Jul 19, 2008 09:02:17 AM

Wachovia Mortgages

I went with Wachovia mortgage and had the worst time. They change rates after it is "locked in" and inflat closing costs. The great part about it all was the don't tell you about the inflated closing costs until the evening before the closing, when it is too late. Please do yourself a favor and never work with wachovia mortgage. They may seem to have the best rate in the beginning, but their "good faith estimates" mean nothing to them.

Ryan of NJ @ Jul 17, 2008 15:58:39 PM

fear mongering

The media is doing a great disservice to the banking industry . Srocks are taking a hit but wachovia is still a strong bank . Review your fdic insurance to make sure you are covered . if not cover it with family memebers u trust. the worst thing to do is follow the people at indy mac. tHE BANK HAD PROBLEMS BECUASE EVERYONE PANICKED AND W/Drew 11billion in 3 days . Keep your funds covered and you will be ok . The media is creating more fear than they are helping

r g of @ Jul 17, 2008 12:55:51 PM

CD's - wACHOVIA

I actually work for Wachovia and to be honest you need to review your FDIC COVERAGE. There is a 100 k cap on the insurance but you can title the accounts differently to add additional coverage.....poa , in trust for, beneficiaries, joint, and single.. but you have to title the accounts differently. You only can add immediate family (spouse, parent, child, grandchild) Also Wach offers an added coverage cd (deleware) that gives account holders an additional 100k. So ex

Single owner 100k added coverage another 100k

or

Mom Dad Acct Daughter as Pod 300k + added coverage cd 100k = 400k

get it....

Oh and IRA's are covered for 250k.

Visit FDIC.gov they have a coverage calculator that youcan use... Whewwww.... good luck....do your research. more money more problems.

Jane B of NC @ Jul 16, 2008 23:05:37 PM

wachovia

it all depends on how accounts are coded- at my local wachovia over 1 million can be insured by FDIC.

of NC @ Jul 16, 2008 22:10:43 PM