Well, you can be pretty well sure that unless western civilization fails and your money is worthless anyway, that you can trust having your money in USD/EUR in a bank up to a certain amount (100K in the EU, not sure how much in the USA), even if they get hacked, skim and commit fraud. Same can't be said for Bitcoin and we keep being reminded of it.
The 100K is against bank default. If your account is hacked from your side, you might have trouble getting the bank to pay you. It would be on you to prove you were hacked.
In the US at least, the semi-governmental FDIC automatically publicly insures accounts, not banks, up to $250,000.
In addition most banks are privately insured against fraud.
I've dealt with an 8k fraudulent charge on my card before. The bank investigated, sent over a sworn affidavit to sign, and they refunded my money in less than 24 hours.
I had a $20 error charge on my card and it took a month for the refund. This is with the vendor stating in writing it was their error. I no longer bank there.
This is factually incorrect. If you didn't authorize the transfer, the bank is legally required to make you whole.
This only applies to personal accounts, not business accounts.
There is a reason why scammers work so hard to find someone to "cash checks" or "withdraw funds" or do that kind of nonsense. Electronically stealing funds is easy. Keeping those funds is hard.
> Well, you can be pretty well sure that unless western civilization fails and your money is worthless anyway, that you can trust having your money in USD/EUR in a bank up to a certain amount (100K in the EU, not sure how much in the USA),
Eh. Tell that to the Greeks. And it happened for much less than "civilization failing".
Greeks didn't lose money in the bank. There were temporary losses of ATM availability due to bank runs, but the account protection was maintained. Even in Cyprus the "bail-in" applied to over €150k only.
