Sheltering at home doesn’t mean you need to rush out and make a big withdrawal from your bank or credit union. Rose Oswald Poels is CEO and President of the Wisconsin Bankers Association, says people are understandably concerned about access to their money during the COVID-19 pandemic.
Gov Evers issued a Safer At Home Order, but you can rest assured that banks are considered an essential service, they’ll continue to operate & you’ll have uninterrupted access to your money. Here are the top 5 things to know abt banks under Safer At Home: https://t.co/P3sT7cQw2A pic.twitter.com/4aoRhxu589
— Wisconsin Bankers (@wisbank) March 24, 2020
“You will always have access to your money in a bank or credit union account through use of your debit card, through use of ATM machines. None of that is changing.” All Wisconsin banks and credit unions remain open for business, and individual accounts are insured up to $250,000.
Poels said withdrawing a large amount of cash runs the risk of it being stolen, lost or damaged. “So it’s really not safe to take money out of the bank and literally put it under the mattress at home.”
Banks are considered an essential service under Governor Tony Evers’ order closing non-essential businesses.