When it's too good to be true, it usually is, but I'm looking for first hand experience. Anyone tried this bank?
one way how to tell if your bank is in trouble or not is to look at the cd rates they offer. If they are high or very high they may be in trouble. ie trying to raise money. If they are mid or low they have a good cash flow thats why they are willing to pay you less for your money. Very high cd rates with no fdic backing. I think i would let that one pass. Its not worth risk for the few percent more you'll make.
As they say, if it is too good to be true, it is too good to be true. No FDIC insurance so you could lose everything
I've never tried it. But if you're not sure about something, don't take the risk. Especially with your money. Go to a real FDIC insured bank.
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