A glitch prevented her account from being displayed for a few days, then was resolved. Your money, when covered via FDIC/SIPC and federal regulations, doesn’t just “disappear”.
> “There was no warning that I would not be able to access my accounts for five days,” she added. “If I had to use that money, it was completely inaccessible.”
A good reminder that your emergency fund should be held in cash at a bank, not in shares a brokerage. Not that a glitch like this couldn’t block access to your bank account too, but rather that the process of liquidating and transferring securities is much slower than ACH or Zelle.
9 comments
[ 2.5 ms ] story [ 31.0 ms ] threadA glitch prevented her account from being displayed for a few days, then was resolved. Your money, when covered via FDIC/SIPC and federal regulations, doesn’t just “disappear”.
A good reminder that your emergency fund should be held in cash at a bank, not in shares a brokerage. Not that a glitch like this couldn’t block access to your bank account too, but rather that the process of liquidating and transferring securities is much slower than ACH or Zelle.
If someone else can freeze, deny, censor, or condition your access to your money, then your "ownership" is incomplete, and definitely, not yours.
Never let cash go away. Never.