Bank Robbery

[dmnhl35]

If a person commits Bank Robbery and they get away with it, is the money insured? The money is coming out of an individuals account, so is it insured by the FDIC?

[Ethel]

Yes - up to the limit of �30,000 at 100% compensation and then 90% of the next �20,000.

If you have more than �30,000 distribute it between different banks.

[lukey121]

i think your ok having more then �30,000 in a bank. When was the last time your bank got robbed?

[dzug]

It's not normally 'bank robbery' if the money is stolen from an individual's account - it's fraud..

Bank robbery is where you walk into a bank with (something that looks like) a gun and demand money from the cashier. That comes from the bank, not an individual's account.

Fraud is where someone steals from your account by deception. It may or not be insured - depends if you personally have any insurance or the bank is negligent.

The compensation mentioned by earlier posters is where the bank has gone bust.

[oldhenry]

the last major bank collapse was BCCI, I think.
some lost �ms, some Councils did. Luckily I was tipped off at our council that BCCI stood for 'Bank of Crooks and Cocaine International' or something like that.
So make sure your bank(s) , always spread money around,have a good rating on the Fitch scale!