FDIC Consumer News
Dear FDIC: More Answers to Consumer Questions About Deposit Insurance
- Summer 2017
- I have a prepaid account that I understand could be FDIC-insured. What do I need to know?
- I have already paid for my burial expenses and signed a funeral service contract with the funeral home, which deposited the money into a bank account for these purposes. If the bank fails, do I get the money back or does the funeral home? Either way, what do I need to know to be fully protected?
- Winter 2016
- It appears that some FDIC-insured financial institutions pay higher interest rates on deposit accounts that are opened online. I would like to take advantage of these interest rates, but I have never banked online. Can an online account be FDIC-insured? If so, would FDIC insurance help me if there is a theft or other problem with an online transaction?
- Fall 2015
- Summer 2015
- I understood that the basic FDIC deposit insurance coverage is $250,000 for each account, but a friend said the basic coverage is $250,000 for each depositor at each bank. Who is correct?
- I am elderly and I have a revocable living trust that names my three children as beneficiaries. All three children live far away from me, but I have a niece who lives nearby and comes to check on me. I would like to leave her some money when I pass away, but I would like to have the use of the money until then. What might be a good option?