In the last few hours, the situation of banks in the United States is causing a great stir due to Silicon Valley Bank. Social Security users have been frightened about their pensions, and any citizen should be able to have access to their pension money without problems.
In the past week, Silicon Valley Bank suffered a historic fall and even announced the need for a bailout. However, the United States Government itself has announced that the 2008 bailout situation will not be repeated, so this bank will have to close its doors.
In view of this situation, many frightened citizens thought that their pensions could be in danger, but the US government itself has asked for calm and tranquility. As of today, March 13, all Silicon Valley Bank users will be able to withdraw their money. Although the situation may spread to other banks, there are some banks that insure Social Security payments.
Top 4 United States banks to get your SSA in
In order to be confident that our Social Security check will reach our pocket, it is critical to be able to trust our bank. Every citizen wants to avoid the Silicon Valley Bank situation because it is not good to be faced with the possibility that we will run out of our Social Security check.
The 4 best performing banks in the United States that insure our Social Security benefit are as follows. If we receive our benefit through one of them, we will be assured of our money for the month.
- JPMorgan Chase & Co.
- Bank of America
- Wells Fargo
- Citigroup Inc.
Each of these banks has certain characteristics, although the main one they have demonstrated so far is reliability. None of them will be affected for the moment by the situation related to Silicon Valley Bank. Everything seems to indicate that we will be calm when it comes to receiving our monthly Social Security check.
JPMorgan Chase & Co.
This is the leading bank in the United States. It was born in 2000 after a merger between Chase Manhattan Corporation and J.P. Morgan & Co. The main offices are in New York. This is one of the safest places to cash our Social Security check.
It is the leader in investment banking as well as financial services. It also has a high level of records management and private investments. This makes that in the end they get an amount of 2.251 trillion dollars of financial assets. That is why it is a good idea to collect our pension in this bank.
Bank of America
Another of the main banks in the United States of America. The headquarters of this bank is in North Carolina. It is the largest bank in the United States in terms of financial assets. In total, it can handle about 2,354 trillion in financial assets. To this we must add 287 trillion in market capitalization, something that is not easy.
The Silicon Valley Bank situation does not affect Bank of America for the time being, so our pension check is more than assured. We can use this bank without fear of losing our money.
Wells Fargo
The second largest bank in the United States in terms of deposits is Wells Fargo. To this we have to add mortgages and debit cards. In total, Wells Fargo has 1.942 trillion dollars of financial assets in its pocket.
The headquarters of this bank is in San Francisco. It was originally two companies that merged in 1998. On one side was California Wells Fargo and on the other side was Norwest Corporation. The second of these companies acquired the first one.
Citigroup Inc.
This banking group is not only important in the United States, but worldwide. Headquartered in New York, receiving a check through our Citigroup Inc. bank account offers peace of mind and stability. Today, financial assets total $1.818 trillion.
The merger in 1998 of Citicorp and Traveles Group gave birth to this bank. It is a primary dealer of United States Treasury securities. The Silicon Valley Bank situation has not affected it for the moment and it seems that it will not, as it is a bank with a long history and great reliability.