SPONSORED

How You Can Navigate The Banking World In Light Of The Coronavirus

Mar 23, 2020, 3:30 PM | Updated: Mar 24, 2020, 11:05 am
Photo: Getty Images...
Photo: Getty Images

This article about how to navigate the banking world in light of the coronavirus is sponsored by Altabank. Member FDIC.


While there have been a lot of headlines and stories about people worrying about the safety of their finances, how safe and secure are banks right now? Here’s how to navigate the banking world in uncertain times.

Most Banks Are Stable, Secure, and Safe

Photo: Getty Images

People don’t need to panic as a result of all of this. Capital levels are at all-time highs. The last recession taught banks a lot. So most banks are liquid or have sufficient cash available to operate as usual. FDIC member banks are incredibly safe. We have no concerns about the ability to navigate this pandemic and any resulting economic slowdowns. FDIC insurance also helps protect your money as well.

How Will Customers Be Impacted?

Photo: Getty Images

You may see branches that close temporarily, but for most banks, it will still be business as usual. Thanks to modern technology, there isn’t much you need to go into a branch for that an app won’t do. Between online banking and pay apps, you can manage your finances, do your shopping, and transfer money even if you are restricted to your house. And as an additional piece of mind, most banks and credit unions provide customers with fraud protection and immediate notification of transactions.

What Can Small And Medium Business Owners Do Today?

Photo: Getty Images

Believe it or not, now is a great time to get in touch with your banker to put some contingency plans in place. The Small Business Administration has already started to work with banks. If your small business has been impacted, banks and the SBA have ways to help you.

You can get in touch with Altabank at Altabank.com to see what they can do to help you and your business thrive in these uncertain times.

Today’s Top Stories

Sponsored

Tax Harassment...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
1 month ago
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
2 months ago
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
2 months ago
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
3 months ago
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
5 months ago
Joseph Smith Memorial Building...
Temple Square

The Joseph Smith Memorial Building is an icon of Salt Lake City | Why hosting an event at this beautiful location will make you a hero this year

Here's why hosting an event at the iconic Joseph Smith Memorial Building in downtown Salt Lake City will make you a hero this year.
5 months ago
How You Can Navigate The Banking World In Light Of The Coronavirus