seb_ra / Getty Images ... the highest insurance protection for your money. The FDIC's job is to maintain confidence in the nation's financial system. It does this by insuring bank deposits ...

Recent bank failures have focused attention on deposit insurance. With the recent failures of Silicon Valley Bank and Signature Bank the FDIC ensured all depositors were quickly paid back in full.

Online-only banks also provide FDIC insurance, but fintech companies aren't part of the FDIC network. Before you open an account at a bank or credit union, it’s wise to verify that the ...