needed to vent

[whtyger97]

While i was sleeping last night, my dh opened up a new bank account. I knew he had been looking around at online banks (not online banking, but rather banks that exist only online), but i thought before he did anything we would have a discusion about it. I ask him why he didn't wait till I woke up, and he didn't think i would care! He wants to move the money because it can get a much better intrest rate, but even with the better intrest rate its only a difference of $150 a year. On top of this we are looking to get a house (very) soon, if he gets a job he interviewed for. I wanted to wait till after we bought a house before doing anything about moving our savings around.
I consider myself VERY computer savy, but online banks still bother me, i don't know why, i just am afraid one day you'll wake up and poof they're gone witlh all you money. He says its the 11th largest bank in the world, and i think other ppl are silly who refuse to use atms or credit cards (that are paid off at the end of each month, i understand not using credit cards for things you don't have the money for) so maybe i am wrong, but somehow it just doesn't feel right.

thanks, i just needed to vent.

 

[TigerBear]

That does seem to be a decision you should have made together. I didn't even know online banks exist.

 

[mudnuri]

I dont quite get why your upset..he didnt spend the money, all he did was move it to a bank that makes more interest....

Maybe theres more to this situation than we are hearing?

Brandy

 

[whtyger97]

what i'm unhappy about is the risk, i don't know anything about this bank, how i would access the money, etc.
Its not like he walked down to the corner bank and put in some bucks, its an online one which for as much as i know could be a 15 year old kid and disappear tommorow. I'm upset because he took this risk without allowing me to have a vote in the discision.
I don't know anything about the account he opened.

 

[oogieboogie]

If you're worried about the validity of this bank, you could check the fdic.gov and do an institution search on them. You'll be able to see how much deposit $ they do and who the parent company is, their headquarters, etc. If they are registered with fdic, then I wouldn't worry, because they would be under fdic regulations, and your money would be insured with the fdic.

Remember, even internet banks are regulated. Just because they don't have any brick and mortar branches, they must have a physical headquarter.

I've used several internet only banks in the past, and I have to say, although they are convenient in some ways, I still like being able to go into a branch when I need to.

That said, I do think he should have discussed opening the account with you, but I know how some men are, and he probably innocently thought you wouldn't mind.

Would you mind telling what the bank's name is?

 

[Mishetta]

That is a decision that should have included you but it's a done deal now...so just make sure it's reputable so that you'll feel comfortable with your new cyber bank!