Each depositor insured to at least $250,000 per insured bank

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Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

Summer 2004

Merchants Now Process Checks Electronically

Many stores will accept your check at the sales counter, scan it through a reader, hand the voided check back to you and then use the information from your check to arrange for an electronic fund transfer. A similar process may occur when you mail a check to pay a bill.

For information about what you need to know about this way of quickly processing your check, including your right to receive advance notice of an electronic fund transfer and how to resolve a problem, read the Federal Reserve's brochure When Is Your Check Not a Check? at www.federalreserve.gov/pubs/checkconv or the Federal Trade Commission's E-Checks (Electronic Check Conversion) at www.ftc.gov/bcp/conline/pubs/credit/echeck.htm.

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Last Updated 08/26/2004 communications@fdic.gov