<prompt> Human: I went to Chase my secondary bank with minimum deposit to not incur charges and the conversatiion eventually went towards my primary bank. I mentioned to the banker that I have my savings in Ally Bank. He tried to scare me saying what if they go out of business. I responded Im anyway protected by FDIC upto 250,000. He then countered that saying that it could even take years to get the money. Realistically; Do I need to be worried about my savings sitting in Ally considering its almost 100 year old financial institution. Update Thank you all for the overwhelming response. I feel more assured about my decision to make Ally as my primary bank. I had Chase saving as they gave one time 300 for opening account and depositing 15,000 within 30 days. Post that; I got almost nothing i.e. 10 per year. I moved my money to Ally 22000 and at their interest rate; I would get more in the longer run every year. My learning is it simply doesnt make sense to have large emergency fund in the big banks which dont pay interest even if they give attractive opening offer.  <response>: Its not like Chase couldnt fail either. Your money is fine at Ally. 