Does the fdic cover business accounts?

The Federal Deposit Insurance Corporation (FDIC) provides insurance that guarantees deposits for depositors of member banks up to $250,000 per depositor per bank. FDIC insurance covers all depositors: businesses, individuals, trusts, municipalities, for profits, non profits, all depositors.

Not all depositories offer FDIC insurance, however. Those that do will post a sign or plaque in the lobby stating that “deposits are backed by the full faith and credit of the United States Government”. Look for that sign or plaque. If you don’t see it, don’t assume it is an FDIC member bank. Ask one of the employees.

Advertisements
This entry was posted in Banking. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s