They are FDIC backed in the U.S. - Maestro credit cards issued in the United States linked to a checking or savings account are backed by the Federal Deposit Insurance Corporation.
It is important to note that FDIC insurance only applies to cards linked to a bank account in the U.S. If you simply load your card through a retailer, the funds are not FDIC insured.
First Option is FDIC insured and reports to 3 major credit bureaus, plus you can earn interest on your deposits.
All reputable banks in the U.S. are insured by the FDIC (Federal Deposit Insurance Corporation), which both insures deposits and provides consumer information about banks.
The FDIC should be your first stop for filing a complaint or getting more information if you think you're being defrauded.
The bank boasts FDIC insurance, so most deposits will be covered in the event that the bank goes bust.
All banks should be FDIC (Federal Deposit Insurance Corporation) members, meaning bank deposits are insured up to $100,000.
The entity governing the financial institution the broker works with, such as NCUA for credit unions or FDIC.
The banking regulatory agency FDIC allows some banks that have more capital to offer interest rates about the national average.
Keep in mind that, depending on your investment choices, your funds may not be FDIC insured.
If an FDIC insured bank or savings association fails, depositor's account balances are protected up to specific limits based on the type of account.
The more you know about FDIC insurance protection, the better prepared you will be if your bank or savings association fails.
In 1933, the Federal Deposit Insurance Corporation (FDIC) was created as an independent agency of the United States government.
The purpose of the FDIC is to protect depositors against the loss of their deposits if their FDIC insured bank or savings association should fail.
FDIC insurance is backed by the funds of the United States government.
A bank must meet extremely high standards for financial strength and stability In order to be an FDIC insured bank.
Even with the high standards set by the FDIC, an insured bank can implement a policy or procedure that may cause the bank to eventually have financial trouble.
The balances on these instruments are insured by the United States government, but they are not insured by the FDIC.
Money invested in stocks, bonds, mutual funds, life insurance policies, mortgage life insurance, annuities or municipal securities, even if they were purchased through an FDIC insured bank or savings association.
You do not have to be a United States citizen or resident for your deposits to be covered.The FDIC coverage is provided dollar-to-dollar for all balances.
For example, as shown in the box, if John and Mary were equal owners of a $550,000 CD, only $500,000 of their CD deposit would be covered by FDIC insurance.
The FDIC has an online Electric Deposit Insurance Estimator (EDIE) that can help you calculate the insurance coverage of your deposit accounts.
The federal law mandates that the FDIC make payments on the insured deposits as soon as possible to depositors.
Banks and savings associations which are insured by the FDIC have an official FDIC sign placed where the deposits are received.
Limit the size of your total deposits to stay within the FDIC protection limits.
If two of your banks merge, review the balances on your deposit accounts, restructuring the accounts where necessary to stay within the FDIC protection limits.
This article includes the basic information about FDIC insurance.
By Phone - Call the FDIC at 877-ASK-FDIC Monday to Friday between 8 a.m. and 8 p.m. (Eastern Time).
The hearing impaired line to the FDIC is 800-925-4618.
By Email - Email the FDIC by completing the Customer Assistance Form.
Online - Read details about FDIC Insurance and the informative FDIC booklet Your Insured Deposits: The FDIC's Guide to Deposit Insurance Coverage.
In today's turbulent economy, investors are always seeking safe and insured savings products, such as FDIC Certificates of Deposit.
FDIC is the term used for Federal Deposit Insurance Corporation which covers anyone who deposits money into savings accounts at any bank.
The FDIC insurance covers checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), as well as all checks drawn on those accounts.
CDs that are FDIC insured are an important part of any investment portfolio.
Most Americans assume that their money is safe in a bank account, but what do you know about the FDIC insurance limit?
Roosevelt signed the Banking Act establishing the FDIC as what was intended to be a temporary government corporation.
The FDIC was given the authority to regulate banks and to provide deposit insurance.
After the savings and loan crisis in the late 1980s, the FDIC absorbed the Federal Savings and Loan Insurance Corporation (FSLIC) which had become insolvent.
In 1980, the FDIC insurance limit was raised to $100,000, which is the permanent limit still in effect.
People sometimes assume that any account or financial product purchased from their bank is covered, but not all types of accounts qualify for FDIC insurance.
FDIC insurance also covers cashier's checks or other negotiable instruments issued by the bank.It's also important to know what is not covered by FDIC insurance.
The contents of your safe deposit box are not covered by the FDIC.
The FDIC also does not cover losses caused by theft or fraud at the bank.
The word usage examples above have been gathered from various sources to reflect current and historial usage. They do not represent the opinions of YourDictionary.com.