Would you keep an account in a bank where the manager was arrested for embezzlement?

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  • 5 months ago
    Best answer

    Your money is FDIC protected up to $100,000 so if you don't have that much in it, why not? If you have more than that, I doubt he cleaned out everything. It would be limited to one branch. You shouldn't punish the bank because the employee turned bad. You can bet that they DID run a complete background checkon him prior to hiring.

    • RICK
      Lv 7
      5 months agoReport

      FDIC went to $250,000 years ago
      You been sleeping?

  • 5 months ago

    From one side, it would set me on alert that the employee of the bank can commit theft and embezzlement. From the other side, the fact that his fraud scheme has been discovered shows that bank security service does its work.

  • Anonymous
    5 months ago

    Convicted means more than arrested. But he would be fired for either and my money Is federally insured so it would not matter much.

  • Anonymous
    5 months ago

    There is no right or wrong answer here. This is a personal preference.. Some will say have to think on if i was in a situation like that

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  • Erik
    Lv 7
    5 months ago

    Sure, why not? If he was arrested for embezzlement, it means he's not there anymore.

  • 5 months ago

    Actually, do to increased oversight, that would probably be the SAFEST bank for several years.

  • 5 months ago

    Why not? Your "money" is just digits in a computer, and that amount is guaranteed by the FDIC.

  • J.S.
    Lv 4
    5 months ago

    Yes, of course. It is only an embezzlement by one employee.

  • 5 months ago

    i dont think i would

  • Frank
    Lv 5
    5 months ago

    Sure. The account holders are typically "kept whole" in these cases. The manager, if one existed and was caught embezzling, is NOT something the BANKS like to PROSECUTE for...because of the BAD publicity. It tends to lead to BETTER security practices.

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