Would you recommend banking at a bank with hundreds of branches or a small independent bank ?

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

I depend on a monthly disability check, which is directly deposited in my current bank, which has many local branches and is owned by HSBC. Should I start a account at my local small town bank, my thinking is they wouldn't have all the Y2K related problems that a larger bank might have. Thank You !!!

-- Larry Lamar (ps23lpl@webtv.net), April 16, 1999


How about accumulating cash, kept in safe places...withdrawn a bit at a time after the direct deposit is credited. I know they look at us funny when we pay cash but it's perfectedly legal in the current system. :-) By the way, there may be an old thread here in the archives about "midnight gardening"...a way to keep assets safe....somebody with more energy might have a look and revive the thread.

-- Donna Barthuley (moment@pacbell.net), April 16, 1999.


I am very reluctant to make suggestions about how people should manage their finances beyond saying be prudent. However, I feel it may be appropriate to mention that I am personally more comfortable having accounts with multiple banks than I would be having an account in only one bank.

FWIW, I make it a point to use banks whose headquarters are located in different parts of the country.


-- Jerry B (skeptic76@erols.com), April 16, 1999.

actually, I have all my money out of all banks, stocks, mutual funds, except for presently weekly operating expenses. Local or not, if the the New York banks and the Fed or offline, down or dispupted, it won't matter what bank you're in.

good luck,


-- Bob Pilcher (bobbyp42@aol.com), April 16, 1999.

If I were in your shoes, and had decided to stay put, I would open an account at my home town bank, after I had checked them out to see how seriously they are taking y2k. I would focus on their contingency plans, and if it looks like they won't have to worry about an FDIC shutdown order, I would go to them. The chances are better that they would know me as a local resident and depositor than a large bank with many branches, and policies more suited for a larger mix of people.

-- LP (soldog@hotmail.com), April 17, 1999.

Moderation questions? read the FAQ