Nearly half of Americans concerned whether their money is safe in banks

Half of all Americans are not too concerned about the safety of their money.

Published: May 4, 2023 12:15pm

Nearly half of all Americans are worried about how safe their money is in banks as multiple U.S. financial institutions have failed in the past two months, according to a poll released Thursday.

A total of 48% of U.S. adults say they are worried about the safety of their money, including 19% who said they are "very" concerned and 29% who said they are "moderately" worried, according to a Gallup poll.

The poll was conducted April 3-25, the month after Silicon Valley Bank and Signature Bank failed. First Republic Bank collapsed on May 1.

Thirty percent of Americans are "not too worried" while 20% are "not worried at all" about the safety of their deposits, according to the poll.

The survey is similar to one conducted in 2008, when Gallup found 45% of U.S. adults were very or moderately worried about how safe their money was after Lehman Brothers investment bank went bankrupt.

This poll was conducted among 1,013 U.S. adults and has a 4% margin of error.

Madeleine Hubbard is an international correspondent for Just the News. Follow her on Twitter or Instagram.

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