Forum
Last updated: 

My bank fails. What should I do?

I only have one bank here in Singapore, all of my savings are being deposited to this specific bank that I have been trusting since I first got a job. Now there is news that the bank that I have been keeping my money has suddenly gone bankrupt and told that I would not be opening anytime soon. What should I do to get my money now?

Search other products or providers:

User comments

  • user image

    No Name

    Banks are the safest place to keep your money. But from time to time some banks experience bankruptcy. Most banks are FDIC secured. If your bank is under the FDIC your money is safe that is upto $250,000.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Debit Cards

What age can someone open a debit card.

Debit Cards

I lost my Debit Card.

Debit Cards

Lending my Debit card

Debit Cards

My grandfather are being treated at home

Debit Cards

Is it safe to give my account number to other persons?

Debit Cards

Will my bank account closed if it does not have enough balance?

Related Reviews

Debit Cards

The best high interest account in the market!

This is perhaps the most competitive salary crediting account that earns sizeable interest rate. Only low point is that you need to hit the minimum spent of $500 a month on debit or credit card and must pair up with one/yolo/lady’s card. Best high interest account in the market! Reliable and efficient travel insurance claim, highly recommendable and easy to claim. Your one stop solution for all travel insurance needs.

UOB One Account / United Overseas Bank

Debit Cards

Convenience of accessing your account via the Global view facility

They allow eligibility for children aged 18 and below with a minimum initial deposit of S$1. With the HSBC Premier Lite Savings account as their first savings account, they will not only start saving early, but also receive a recognition card that offers worldwide emergency support wherever they may be. Apart from the exclusive HSBC Premier interest rates, you also have the convenience of accessing your account via the Global view facility, or through HSBC’s global ATM network and 24-hour Phone Banking Services.

HSBC Premier Lite / HSBC Bank Singapore

Debit Cards

Awesome banking products with preferential savings rates and lifestyle perks for the elderly

Maybank Singapore goes the extra mile with this one to targets the elderly in new integrated banking package with access to products such as endowment and retirement plans. Maybank Singapore’s integrated package encompassing banking products with preferential savings rates and lifestyle perks for customers aged 50 and above as part of its efforts to help them grow their retirement funds is simple genius

Maybank Passion Plus Programme / Maybank Singapore

Debit Cards

User interface for the mobile and online banking is lagging

Good account with pretty good interest without having to worry about minimum spend or other transactions. However, since they encourage account holders to go cardless, to get a card you may need to pay for it. I find that the user interface for the mobile and online banking is rather lacklustre as logging in seems to be a huge problem for the app.

CIMB FastSaver-i Account / CIMB Bank Berhad Singapore Branch

Debit Cards

Complimentary cash withdrawals from Citibank ATMs overseas

I use Citibank for travel and they have saved me a lot of money on ATM fees as they have many ATM's all over the world. When I had to call them I was very impressed with the level of customer service they provided me.They require a minimum initial deposit of $2,000 and provide complimentary cash withdrawals from Citibank ATMs overseas with no processing fee and instant fund transfers, I give them some high recommendations

Citibank InterestPlus Savings Account / Citibank Singapore

Debit Cards

Only an initial deposit ofy $10 with no fall below fee

The initial deposit is only $10 and there are no fall below fee, while the account offers other kid-related perks such as birthday privileges, hand foot and mouth disease hospitalisation and outpatient insurance and personal accident insurance for you and your child. They’ve also got frequent promotions designed to attract kids. For instance, when opening a Youngstarz Savings Account, your kid gets a $20 POPULAR bookstore voucher.

Maybank Youngstarz Savings Account / Maybank Singapore