treasury securities, and insurance products are not. However, money market funds, stocks, bonds, annuities, safe deposit boxes, U.S.

Typically, it covers most checking and savings accounts, negotiable orders of withdrawal (NOW), certificates of deposit (CD), and money market deposit accounts (MMDA). Just be aware that not all accounts are insured. If so, you’ll be reimbursed up to $25,000. To ensure that this didn’t repeat, the government created this independent agency to protect you from any loss of deposits if your bank fails. As a consequence, the banks couldn’t keep up with the demand. For a quick history lesson, during that time, people panicked and made massive withdraws from banks. Regardless if you have your money in a traditional financial institution or an online bank, do your due diligence to make sure that’s FDIC-insured.Ĭreated in 1933, the Federal Deposit Insurance Corporation (FDIC) was created in response to the Great Depression. Use a virus scanner and firewall program.

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