Banking Crisis: I Thought I’d Lost My House Down Payment, But Here’s Why it All Worked Out

You should stay calm and not raid your cash amid banking chaos.

A depiction of a house sinking in water.
(Image credit: Getty Images)

The banking crisis that has seen First Republic, Silicon Valley Bank and Signature Bank all collapse could become a moment of panic for savers. But it doesn’t need to be if you follow logic rather than emotion. 

The important thing to remember with savings safety is that most accounts come with significant protection, such as the $250,000 per person safety net offered by the Federal Deposit Insurance Corporation, which means if your bank went bust and you didn’t have any more than that saved, you’d get your money back. 

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Guy Anker
MD, Wealth

Guy has extensive experience in personal finance journalism having joined Future (Kiplinger's parent company) after 13 years at MoneySavingExpert.com, most recently as deputy editor, and working closely alongside Martin Lewis. He has also worked at the Daily Mail as a personal finance reporter and his work has appeared in The Sun, Guardian, Observer, Mirror and other national newspapers. As a money and consumer expert, Guy is a regular guest on TV and radio – appearing on BBC News, BBC Radio 4, Sky News, ITV News and more.