Posted on: 28-11-07 15:35:43
Quote:
Originally posted by dimple2001
Pramod,
Did you mean to say USD accounts are NOT CDIC insured?
Yes.
That's exactly what I meant. I believe I erroneously omitted the word NOT in my last post which I have corrected. Thanks for reminding.
Please see this http://www.cdic.ca/index.cfm?ci_id=1233&la_id=1
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Quote:
Originally posted by jonav
Is it safe to continue having bank accounts in States?
Account balance at single bank is FDIC insured upto 100k. Even then there is a hassle of money not being immediately available if the bank goes under - so many people opt to spread their funds.
With the recent size of subprime debacle, many have questioned government's ability to bail out a big bank like Citybank.
