The FDIC is an independent agency of the U.S. government that protects bank customers from losing their money in a bank should it fail. Deposits are insured for up to $250,000 per depositor, per ...

If the cash in your bank is FDIC insured, you can relax By ABC News September 29, 2008, 7:46 PM ...

The FDIC insurance coverage limit at most banks is $250,000 per depositor, per bank, per ownership category. Ownership categories include single accounts, joint accounts and trust accounts.

The FDIC has protected American bank customers for over 90 years; in that time, no one has lost a penny of FDIC-insured funds. But remember, FDIC insurance has its limits.

A fintech isn’t officially a bank, so technically, it isn’t FDIC insured. But it can say your money is FDIC insured by accepting your money and depositing it into a regular FDIC-insured bank.

It has a long track record of protecting insured bank deposits, during good times and bad. Yet it’s unclear whether the FDIC can survive Trump 2.0.

Reuters A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder//File Photo ...