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FDIC insurance is backed by the full faith and credit of the U.S. government and guarantees bank consumers that their money is safe for up to a limit of $250,000 per depositor, per FDIC-insured ...
The FDIC will act quickly to make you whole by either setting you up with a new account at another insured bank that is equal to the insured balance at the failed bank; or, it will issue you a ...
2. Open an account in a different ownership category. If you want to keep all your money in one FDIC-insured bank, you may be able to insure deposits of more than $250,000 by opening different ...
Recent troubles at mid-sized banks across the US have boiled down to one core issue: Uninsured depositors, afraid of losing everything, take their money and run at the first sign of trouble.
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FDIC insurance covers up to $250,000 on individual deposit accounts in the event that the bank fails. That’s why many people prefer to keep their bank account balances under $250,000 .
The FDIC’s Electronic Deposit Insurance Estimator can help you figure out how much of your bank deposits are insured. The FDIC also has a phone number you can call: 877-ASK-FDIC (877-275-3342). 2.
Meanwhile, most U.S. banks are also paying regulator Federal Deposit Insurance Corporation (FDIC) a fee to refill its insurance fund, used to safeguard customer deposits in case of bank failures ...