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Tomato Savings Bank goes bankrupt!
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Triban



Joined: 14 Jul 2009
Location: Suwon Station
PostPosted: Sat Sep 17, 2011 9:10 pm    Post subject: Tomato Savings Bank goes bankrupt! Reply with quote
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
PostPosted: Sat Sep 17, 2011 10:06 pm    Post subject: Reply with quote
http://english.yonhapnews.co.kr/business/2011/09/18/60/0503000000AEN20110918002000320F.HTML
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shaunew



Joined: 17 Apr 2007
Location: Calgary
PostPosted: Sat Sep 17, 2011 10:36 pm    Post subject: Reply with quote
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
PostPosted: Sun Sep 18, 2011 12:13 am    Post subject: Reply with quote
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
PostPosted: Sun Sep 18, 2011 1:26 am    Post subject: Reply with quote
Does this 50MWon apply to foreigners as well?
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jvalmer



Joined: 06 Jun 2003
PostPosted: Sun Sep 18, 2011 2:11 am    Post subject: Reply with quote
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
PostPosted: Sun Sep 18, 2011 2:31 am    Post subject: Reply with quote
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
PostPosted: Mon Sep 19, 2011 2:43 am    Post subject: Reply with quote
I wouldn't trust any savings bank.

I hope KEB is safe.
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ThingsComeAround



Joined: 07 Nov 2008
PostPosted: Mon Sep 19, 2011 6:24 am    Post subject: Reply with quote
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
PostPosted: Mon Sep 19, 2011 8:29 am    Post subject: Re: Tomato Savings Bank goes bankrupt! Reply with quote
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
PostPosted: Mon Sep 19, 2011 8:57 am    Post subject: Reply with quote
Thankfully, I've put all my loot into Pork Bellies, Whale Oil, and Mules.
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Adam Carolla



Joined: 26 Feb 2010
PostPosted: Mon Sep 19, 2011 10:55 pm    Post subject: Reply with quote
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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