A very important lesson to learn here is to keep no money at bank but rather stocks or etfs. If a bank goes bankrupt you can always transfer securities to another bank.
Bankruptcy proceedings against FlowBank
- Thread starter fintechwizard
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Can you do that from any other bank or must the transfer be initiated by the bank going bankruptcy ?
From any bank to any bank in the world. I think you just have to make sure that the receiver bank has the same securities you want to transfer to them. For example you want to transfer tesla stock from ubs bank to ibkr.
You need to check first if ibkr has tesla stock.
So in general there is no risk if you keep your securities at any bank since they can always be transferred if things go wrong?
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
This is most valuable lesson we can learn from this thread
Only issue is that it can take let's say up to 3 months to finish..
Forced investment. We saw it with BTC on Mt. Gox. Took years but many people will be happy about their forced investment with a 10000% ROI
https://www.tomshardware.com/tech-i...10000-more-valuable-than-when-it-went-missing
This is irrelevant
How can you compare btc at some exchange to stocks or etfs
A stock or etf price is same at every platform or bank.
So in this case if your ex: tsla stock was worth 200$ at time when your bank went bankrupt, you would still get the appreciation of tsla stock later + dividend
Could someone please confirm if you will get dividends in this case or not?
I assume yes
Yes, you still get dividends and any appreciation in value of the stock. As with Mt. Gox, you just cannot sell and are forced to remain an investor.
I know this is regulated through legislation in Switzerland since 2022 or something like that but is this true for all banks, even in other countries?
okay, if that means you don't loose your money or assets it's everyone can live with it.
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