Why Is It Important To Use A Bank That Is Insured By The Fdic?

  1. Deposit insurance is one of the most significant benefits of holding a bank account with an FDIC-insured institution; it is the way in which the FDIC protects your money in the unlikely case of a bank collapse.
  2. If your bank fails, you will lose your money.
  3. The normal insurance amount is $250,000 per depositor, each insured bank, and for each account ownership type, with a maximum insurance value of $500,000.

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