This morning, we were woken at 8.15 am by the phone ringing. It was an automated message from T's credit card company, reminding him that he had a payment due, and offering him the opportunity to make the payment by phone. Since they charge for the phone payments, he declined, but he did turn the computer on right away to make a payment before it was overdue.
He clicked onto our bank's site, only to discovered that it had been closed yesterday by the Office of Thrift Supervision, just like in the This American Life episode about what happens when the FDIC takes over a bank. He was still able to make the electronic payment, but it definitely made us pay attention. Last fall, when lots of banks were failing, I did wonder about the security of this bank -- which was essentially entirely online, with just one actual branch -- but after double checking that it was covered by the FDIC, I chose not to worry about it. I'm sort of surprised that it failed now -- isn't the banking crisis supposed to be over?
Our account is now part of Stearns Bank, whose website indicates that they've taken over no less than four failed banks. I'll wait and see what terms they offer us -- what I most liked about ebank was that I could use any ATM, and they would reimburse us for the fees charged by the bank. Otherwise, I'm not sure what bank I'll move to. Probably Schwab, since we already have a brokerage account with them.