So in light of the recent scandal behind Wells Fargo and how its employees were able to go into customers accounts and move money around to new accounts, to maintain and upkeep high pressured sales goals, I started thinking how easy it is for banks to fraudulently do things with your account and money without you ever knowing.


My question is, what are the other options besides traditional banks.


Does anyone still believe in stashing away cash or is that too risky for a number of reasons?


Remember what happened last year ? or a couple years ago with Greece when they were going through their financial crisis and people were unable to access their money from banks or ATMS. Eventually they were only allowed to take little by little. That is scary that in a time of crisis the money you have in the bank can be unavailable to you.


I am starting to think about holding a certain amount in cash vs putting all my funds in the bank because in an emergency (national one) banks can shut you off from your funds.


I dunno it is just so sad to see the times we are in as a Nation.


12 Comments (+add yours?)

  1. cediblog
    Sep 13, 2016 @ 19:43:48

    I was thinking about these types of situations a couple of months ago. As a Canadian black female this type of event happened in one of the provinces, not the one I live in, but another province. this happened a few years go in that province. There was something called Crocus Fund, which I heard was a governmental investment fund, this went defunct somehow and I heard that a lot of people who invested in that fund, lost there money, there was supposedly a class action suit against that area of their provincial government, but most people got back peanuts and lost all the money they invested. Remember this is a provincial government related investment fund and it went belly up. HMMMM”

    You know Neecy this is a question, where one does have to think outside of the box. I do think that it is wise to hold onto some cash and put it in a fireproof and waterproof safe, incase there is a fire or flood in your area. Who knows the people of Katrina did not know. But the other question is, besides holding on to some of our cash, what are the other options? I for one will research your question for myself and find the best solution for me. My Caribbean grandfather lost all his money which was in a chest in the 1940’s due to a hurricane in that area.

    How were banks in the great depression operating? could people take any of their money out? I don’t know?

    With events like “BREXIT” and so much uncertainty in the world, these are questions we should be asking ourselves. Some economists have been predicting a world economic collapse. for sometime now.

    though they are risks involved with stashing away cash, there is also risks in putting all of your money in a bank account. There are risks involved in investing your money period?

    Like I said previously it may be wise to hold onto some cash and put it in a waterproof and fireprooof high security safe.

    I’d like to learn other alternative ways of storing money.



    • Neecy
      Sep 14, 2016 @ 07:44:21

      Yes its time to think outside the box today when it comes to our money. I am going to open a credit union account and a brokerage account as well as my traditional banking account. I’ll also stash cash in a fire/water proof safe for emergencies.



  2. Dorian
    Sep 13, 2016 @ 22:10:07

    Hello Neecy,
    As always your articles are never boring. Consider stashing away cash in small bills, and keep a pantry. Prepare quietly without fanfare. I was never one for brand name banks. Credit unions have serve me well so far. Wells Fargo has a nasty reputation regarding individuals money.

    Liked by 1 person


  3. uly55es
    Sep 14, 2016 @ 04:09:47

    Been through the Savings and Loan scandal. Been through the “Too big to Fail” 2008 crash. What I do is not keep all of my eggs in one basket. I have my money spread between a commercial bank, a credit union and a brokerage account.

    I don’t mess with savings and loans. I do keep a certain amount of my emergency fund at home in cash locked up in a safe for quick access. Say in case the grid goes down. Think about it. No electricity. No functioning (or empty) ATM’s. No power, No credit card functioning. I do not keep all of it there since cash sitting in a safe does not draw interest and is not working for me.

    I keep the rest of my emergency fund in the credit union and my day to day savings for bill paying in a commercial back. I keep the credit union and commercial bank accounts linked so that I can transfer my money between the two. My investment income funds all of that and that is kept in a brokerage account linked to my other accounts so that I can move my money with ease.

    There is an old saying that it is a poor dog that only has one hole so diversify your investments and your savings. No loyalty when it comes to your money.



    • Neecy
      Sep 14, 2016 @ 07:46:01


      This is such awesome advice! I’m going to definitely take some of this advice and apply it. I am going to look into a brokerage account. I am also going to do a credit union account as well.

      Thanks so much for this!

      Liked by 1 person


  4. Mimi
    Sep 14, 2016 @ 23:33:40


    Wells Fargo is notoriously racist. But yeah, where do we go from here in the days of “too big to jail”?



  5. cediblog
    Sep 14, 2016 @ 23:42:03

    I too have my money in a credit union here in Canada, though I have found credit unions to be better regulated than banks,. there is something in me that says that there are also better ways of storing our money that we have not thought about. We have talked about fireproof and waterproof high security safes, credit unions and brokerage account, but there has to be also other safe ways to store money, we are going to have to put our thinking caps on, and hopefully later, you may want to repost this article if you choose, and see what other ideas we come up with. Someone mentioned something very informative about let us say the grid, goes down, no electricity, and other things we tend to take for granted, what do we do.
    Your topic regarding getting money out of the bank and the potential of the grid going do is actually very interconnected so many things are. This is all regarding self preservation,j just like leaving blaskistan. In my opinion this article is a precursor for so many topics. Believe me I will be doing my homework regarding the question you asked.. I am eager to learn more.



  6. Mike Street Station
    Sep 15, 2016 @ 06:26:31

    I do all of my banking via a credit union. They had no problems during the financial crisis and I just trust them more. As far as keeping cash at home, I think it’s a good idea if you’re smart about storing and hiding it. Living in a hurricane prone area, if there is a long term power shortage you can’t access or use credit or debit accounts and the only way you can buy things is with cash.



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