Agree, with ransomware attacks moving from educational institutions and medical providers to financial institutions there will be an increasing hassle factor. I see no future where this will stop, and unless there are drastic geo-political changes it is going to get much worse. I am going to take action to have 3 months worth of expenses at three different large institutions. Maybe that's overkill. I don't do business with any small financial institutions, but it is just a matter of time until Chase, Vanguard, Fidelity, Schwab, B of A etc. gets hit. Hopefully they have better ability to recover. While I would not close my local credit union account at this time (if I had one) I'd have a backup. Vanguard likely is not good enough as a first backup since they do not have cash management features. I would not rely on Cash Plus at this time as an alternative to a bank.I think it's worth considering bank diversification these days.
Statistics: Posted by stan1 — Wed Jul 10, 2024 10:13 am — Replies 16 — Views 899