FDIC Insurance

muttmeister

Well-Known Member
On one of the economic discussions we've had in the last few days I think somebody posted that savings accounts are covered by FDIC insurance but that checking accounts are not. I know that is not what I was told by my bank so I did a little checking. On all of the sources I've read, including the FDIC's own website, they all say that checking accounts are covered - as long as your bank is FDIC insured and you aren't over the $100,000 limit (like I have to worry about that:rolleyes:).

Maybe I misunderstood what was said but I thought that might reassure some of you.
 

Star*

call 911........call 911
Thanks Mutt -

Off to move my account(s).....I have so much money I will need around 100 accounts.....buggers! :tongue: OH that was 100,000 and not $1 - my bad.

:surprise:
 

Hound dog

Nana's are Beautiful
lol Star. You and me both.

Still keeping my funds in my hot lil hands though. (what little I have) Cuz while it might be insured, you never know how long it'll take them to get it to you.

But it does make me feel better about what I have to keep in there for paying bills.
 

witzend

Well-Known Member
They must have changed the law since the dark ages when I worked at the banks! It used to be only the savings.
 

meowbunny

New Member
Just in case someone is lucky enough to have $100,000, remember that any interest that takes you over $100,000 is NOT insured. So, be sure to leave some leeway for interest.
 
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