> “There was no warning that I would not be able to access my accounts for five days,” she added. “If I had to use that money, it was completely inaccessible.”
A good reminder that your emergency fund should be held in cash at a bank, not in shares a brokerage. Not that a glitch like this couldn’t block access to your bank account too, but rather that the process of liquidating and transferring securities is much slower than ACH or Zelle.
A good reminder that your emergency fund should be held in cash at a bank, not in shares a brokerage. Not that a glitch like this couldn’t block access to your bank account too, but rather that the process of liquidating and transferring securities is much slower than ACH or Zelle.