I was looking into starting a money market account at Zions Bank, because their rates are so good. However, since I don't live in Salt Lake City, I would like some confirmation of who they are before just sending money over the internet.
2006-09-13 18:24:22 · 3 answers · asked by Serving Jesus 6 in Local Businesses ➔ United States ➔ Other - US Local Businesses
I don't live near a branch, and most people who do aren't aware of it because they operate through a number of subsidiaries.
See http://www.zionsbancorporation.com Unless the company has created an Enron-style fraud, it seems to be good. Its stock is quoted on the NASDAQ, so it's not a huge bank with a lot of shareholders.
ASK FIRST: "Is what I am about to invest protected by FDIC insurance?" (I looked at http://www.zionsbank.com and didn't see the answer, but it's inconceivable that it wouldn't be. BUT ASK.)
A lot of people lost money in the Savings & Loan scandal -- notoriously in the Silverado fiasco in which George W Bush's brother was involved -- because they didn't ask that question (in that case about the FSLIC). Time deposits and CDs are normally protected. Money-market funds may be protected by another federal scheme. Or not at all.
2006-09-13 18:31:11 · answer #1 · answered by Anonymous · 4⤊ 0⤋
they are publicly traded company and very much a legitimate bank.
2006-09-13 18:32:59 · answer #2 · answered by jloertscher 5 · 1⤊ 0⤋
sounds like a jewish bank so you know they will be around for awhile.
2006-09-13 18:33:20 · answer #3 · answered by Chris T 2 · 0⤊ 1⤋