How Safe Are My Bank Deposits?
With a handful of bank failures dominating the news recently, you’ve probably wondered exactly what would happen to your money if your financial institution went under. The good news is that most banks are insured by the Federal Deposit Insurance Corporation, or FDIC, which covers up to $250,000 per depositor, per bank. There are also some banks out there that offer full deposit protection. Through the Depositors Insurance Fund, commonly known as DIF, BankFive is able to offer 100% coverage on all deposits, even those in excess of FDIC limits [Click here to continue reading].