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.
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.
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.
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 insurance covers checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), as well as all checks drawn on those accounts.
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.
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.
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.
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.
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.