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Triban
Joined: 14 Jul 2009
Location: Suwon Station
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 Posted: Sat Sep 17, 2011 9:10 pm Post subject: Tomato Savings Bank goes bankrupt! |
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| The article just came out today. Apparently they ruled Tomato Bank bankrupt and it is closing it's doors. Anyone that has money investes there I would suggest you contatlct them tomorrow and see what's going on!...Luckily for me I withdrew from them a good 2 months ago! |
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hubbahubba
Joined: 31 May 2008
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shaunew
Joined: 17 Apr 2007
Location: Calgary
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| Posted: Sat Sep 17, 2011 10:36 pm Post subject: |
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| Get ready for the bank runs. Send money home asap, worst case this will spread to the large banks. Safest bank will be Woori. Let the collapse begin. |
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mellinger
Joined: 21 Jan 2007
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| Posted: Sun Sep 18, 2011 12:13 am Post subject: |
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Yeah, it sucks. I just renewed my account with them not more than a week and a half ago and they seemed just fine then. Guess there was a lot more going on in the background though.
Guess I will go there on Thursday and see what I can get. The english article you posted said you could pick up a *partial refund on thursday, but shouldn't I be able to get all my money back?
All banks here are insured up to 50 million won per customer, right? (note, I have less than 50 million in there)....so I should be fine. |
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jeffkim1972
Joined: 10 Jan 2007
Location: Mokpo
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| Posted: Sun Sep 18, 2011 1:26 am Post subject: |
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| Does this 50MWon apply to foreigners as well? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Sun Sep 18, 2011 2:11 am Post subject: |
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| shaunew wrote: |
| Get ready for the bank runs. Send money home asap, worst case this will spread to the large banks. Safest bank will be Woori. Let the collapse begin. |
Why do say Woori is the safest?
I figure NH, Kookmin, Shinhan and Hana would be safe banks too. The regional ones like Daegu, Busan and Jeonbuk might be swallowed up by one of the larger ones. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Sun Sep 18, 2011 2:31 am Post subject: |
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These family-run "banks" have been under investigation for at least two months. Its been in the news & talked about on daves. Putting your savings at risk for an extra 2 or 3% interest? I would have had my money out of there well before now.
The up to 50 million won deposit insurance will apply to foreigners same as Koreans, but your cash could be in limbo for a while. |
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jamesd
Joined: 15 Aug 2011
Location: Korea
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| Posted: Mon Sep 19, 2011 2:43 am Post subject: |
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I wouldn't trust any savings bank.
I hope KEB is safe. |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Mon Sep 19, 2011 6:24 am Post subject: |
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| DaHu wrote: |
| haha anyone who puts money in a Tomato deserves what they get. |
Lets see how much you laugh when the bank you save at freezes for an audit. Tool. |
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jeremysums
Joined: 08 Apr 2011
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| Posted: Mon Sep 19, 2011 8:29 am Post subject: Re: Tomato Savings Bank goes bankrupt! |
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A lot of banks are going under worldwide. Hide your money in your house walls.
| Triban wrote: |
| The article just came out today. Apparently they ruled Tomato Bank bankrupt and it is closing it's doors. Anyone that has money investes there I would suggest you contatlct them tomorrow and see what's going on!...Luckily for me I withdrew from them a good 2 months ago! |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Mon Sep 19, 2011 8:57 am Post subject: |
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| Thankfully, I've put all my loot into Pork Bellies, Whale Oil, and Mules. |
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Adam Carolla
Joined: 26 Feb 2010
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| Posted: Mon Sep 19, 2011 10:55 pm Post subject: |
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| Steelrails wrote: |
| Thankfully, I've put all my loot into Pork Bellies, Whale Oil, and Mules. |
Hate to break it to you, but pumpkins are the new gold. |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Tue Sep 20, 2011 1:08 am Post subject: |
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| Adam Carolla wrote: |
| Steelrails wrote: |
| Thankfully, I've put all my loot into Pork Bellies, Whale Oil, and Mules. |
Hate to break it to you, but pumpkins are the new gold. |
Well thank goodness I still have my holdings in 1000 Year-Reich Bank, Pinochet Vineyards, Kodak Film, and Netscape. |
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Mr. Peabody
Joined: 24 Sep 2010
Location: here
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| Posted: Tue Sep 20, 2011 2:16 am Post subject: |
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| ThingsComeAround wrote: |
| DaHu wrote: |
| haha anyone who puts money in a Tomato deserves what they get. |
Lets see how much you laugh when the bank you save at freezes for an audit. Tool. |
DaHu has a point. Tomato Bank offered higher interest rates on deposits when compared to the established banks like KB, Worri and IBK.
Some risk has to be assumed. Kiss all interest goodbye and be happy your principle is covered up to 50 million. |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Tue Sep 20, 2011 2:40 am Post subject: |
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| ThingsComeAround wrote: |
| DaHu wrote: |
| haha anyone who puts money in a Tomato deserves what they get. |
Lets see how much you laugh when the bank you save at freezes for an audit. Tool. |
Tomato isn't a bank. That is the difference.
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