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There is a false assumption that banks in the United States must be safe. It's the biggest economy in the world, right? But the 2008 financial crisis showed that the impression is not necessarily accurate. In fact, the United States has experienced more bank failures than almost any other developed country in the world.

During the financial crisis, the Federal Deposit Insurance Corporation (FDIC) reported an average of 100 bank failures a year between 2008 and 2012.

At the height of the recession, US banks were ranked 40th safest in the world, and frankly, they didn't recover as well as one might hope. In Global Finance's "World's Safest Banks 2017" list, no US bank appeared even in 33rd place out of just fifty.

This is exactly why we talk so much about the concept of legal offshore banking.

Sad to say, this has been an improved performance for US-based banks over previous years. In 2017, the FDIC reported just eight bank failures and none so far in 2018. Yet only one of the top US banks you might consider initially appears on Global Finance's list.

However, there are many reasons why you might choose to keep your money in a US bank. At Nomad Capitalist, we often help people who own multinational corporations that require a US bank account. Expanding their e-commerce business to the US or opening an Amazon store are just two of the reasons why which you might need to open a bank account in the US.

If you are a Nomadic Capitalist about to travel for a long time, you may be looking for a safe place to park your money while you are out of the country. While traveling, you don't want to worry about the financial system and the safety of your money, so choosing a stable bank is key. You'll also need a bank that can easily transfer money to international bank accounts, which makes choosing a bank before you leave even more complicated.

What do we mean by safety

• In the United States, one of the first things you want to know is that the bank is insured by the FDIC. This is a federal government insurance that protects depositors. If the bank collapses while you have money in an account, the US government will secure up to $250,000.

• (Federal Insurance Corporation). If you are looking to put more than the voided FDIC amount into a US bank account, you will have to open accounts with the FDIC Information Protection Group. The first option is the first option.

• Messages are widespread in the United States, Message Messages can help you obtain information or numbers related to any position assignment decision.

• Global Finance List One of the factors that Global Finance takes into account when calculating the list of the safest banks is the size of the assets. Banks with large assets are generally able to recover from NPL losses more easily.

Credit Unions vs. Banks

• Credit unions can sometimes be a safer option, offering higher interest rates on deposits, more affordable loans, and better customer service. Credit unions can have many benefits, but they are not always foreign-friendly because they tend to provide very local services.
• For example, some credit unions don't even have the ability to transfer money internationally. If you're moving to the United States and looking for a safe place to keep your money, a credit union may be a good option, but if you're traveling full-time, a small credit union may not be practical.

• As with banks, the federal government covers up to $250,000 in an account with an insured credit union. Credit unions are insured by the National Credit Union Administration (NCUA), rather than the Federal Insurance Corporation (FDIC).

The Five Safest Banks in America

1-agrobank

• Unless you are a farmer, large-scale producer, or involved in agribusiness, Agribank is not for you. Agribank is part of the US Farm Credit System and operates solely as a wholesale lender. In 2017, Agribank had assets of around $105 billion.

• Agribank exclusively serves the 15 Midwest states. Due to the very local nature of their business, they do not offer international transfers. Fraud is not easily reported and Agribank does not offer a 24/7 helpline or online platform.

2-us bank

• US Bancorp is the parent company of United States Bank, the fifth largest bank in the United States, with assets of $462 billion. In Kiplinger's 2017 list of the best banks in the US, US Bank ranked first with Canadian-owned TD Bank. US Bank has 3,238 branches, most of which are located in the Midwest. There are also 666 branches in California.

• In addition to being one of the safest banks in the United States, US Bank also offers services that make international banking safer and easier. A lost or stolen card and suspicious activity can be reported through the US Bank Helpline or online banking platform. Since there may be times when you don't have access to cell service while abroad, the ability to report fraud through an online banking platform is a useful tool that not all banks offer.

• With US Bank, you can transfer money within the US through Zelle at no additional cost. For international transfers, you can transfer money 24 hours a day, 7 days a week through US Bank's partnership with Western Union.

• Despite being larger and friendlier to nomadic capitalists, the Bank of the United States does not rank first on this list. This is due in part to recent legal problems. In February 2018, the US bank paid $613 million in fines to the US Department of Justice for ignoring anti-money laundering regulations.

3-COBANCO

• CoBank is also part of the US Farm Credit System. As a farm credit bank, CoBank offers direct wholesale and retail loans to farmers and agribusiness underwriters in 23 states. As of 2015, CoBank had assets totaling $117 billion.

• Fraud can Only be reported through a phone hotline, but they do not offer a 24/7 hotline service, which will make it difficult to do business with your bank when you are in a different time zone. CoBank offers international wire transfers, but it's definitely not the friendliest bank for international travelers.

4-AGFIRST

• AgFirst is another agricultural credit bank. Like Agribank, AgFirst is the only wholesale lender, reporting $30 billion in assets in 2017. Like most farm credit banks, AgFirst's operations are very local, serving just 18 eastern states and Puerto Rico. Rich, without providing many of the necessary services for nomads. AgFirst offers an online banking platform to manage loans through your computer, tablet or smartphone.

• AgFirst places a strong emphasis on cyber security, adhering to NIST 800-171r1 cyber security standards, and using a multi-faceted defensive strategy to protect information.

5-Farm Credit Bank of Texas

• Like Agribank, Farm Credit Bank of Texas (FCBT) is a wholesale lender serving the agribusiness industry. FCBT is a smaller local bank with $22.8 billion in total assets. They serve large and complex agricultural business operations, mostly related to food and rural utilities, so they are not the right choice for nomadic capitalists.