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Is My Money Safe in the Bank During the Coronavirus Outbreak or Other Unexpected Situations?

Friday, April 3, 2020

Is My Money Safe In The Bank During The Coronavirus Outbreak Or Other Unexpected Situations?

With the stock market seesawing up and down and many things up in the air, welcome to some good news! An FDIC-insured bank, such as Century Next Bank, is the safest place to keep your money. Your money is automatically covered from the time a deposit account is opened at an insured bank. No separate application needed.

What Do Deposit Accounts Include?

The four types of deposit accounts include:

·         Checking accounts

·         Savings accounts

·         Money market deposit accounts

·         Certificates of Deposit.

How Much Deposit Insurance Coverage Is Available?

The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category such as single, joint, revocable and irrevocable trust accounts. 

Can I Check To See If My Accounts Are Fully Covered?

Absolutely! The FDIC offers its easy-to-use tool, the Electronic Deposit Insurance Estimator (EDIE) at https://edie.fdic.gov/. Simply complete three steps and receive a printable report.

Also, if you have further questions about FDIC coverage related to specific deposit accounts, take a look at the FDIC’s Deposit Insurance FAQ at https://edie.fdic.gov/fdic_info.html

Some Final Thoughts

Century Next Bank encourages you to continue to conduct transactions as normal.  Keep in mind, the safest place for your money is inside an FDIC-insured bank. Since 1933, no depositor has ever lost a penny of FDIC-insured funds.

fdic-image-.jpg

 





Article by: Jessica Slaughter

Jessica Slaughter Image
Tags: Education


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How to Spot, Stop, & Report Government Imposter Scams (7/19/21)Phishing: Don't Take the Bait (7/13/21)Money Mule Scams (7/6/21)Imposter Scams: Say No, Keep Your Dough (6/28/21)Busting Homebuying Myths (3/15/21)Electronic Banking: Online Shopping Safety Tips (3/8/21)Protect Yourself from Coronavirus Scams (3/1/21)Bank Statement Security (2/24/21)Debit Card Safety Tips (12/21/20)How To Avoid Phishing Scams (12/1/20)Personal Information Precautions and Third Party Apps (11/6/20)5 ATM Safety Tips (10/20/20)4 Ways To Protect Your Passwords (9/22/20)SBA Streamlines PPP Forgiveness Application for Many PPP Borrowers (6/22/20)8 Financial Tips for College Freshmen (9/26/19)Teacher Spotlight (9/20/19)Teacher Feature: Sarah Wages (9/13/19)Ashley County Teacher Spotlight (9/3/19)Ouachita Parish Back-to-School Edition (8/27/19)Teachers Impact Our Community (8/21/19)Hometown Heroes: Gage Selby and Tori Simmons (7/12/19)Hometown Heroes: Carolyn & Devin Chadwick (7/5/19)More New Faces at Century Next Bank (6/28/19)Century Next of Ashley County Welcomes New Employees (6/20/19)Introducing New Faces in our Century Next Family (6/14/19)Thank You For Being On The Journey Into The Next Century With Us! (6/4/19)The Heart | New Name. Same People. Same Priority. (2/7/19)Bank of Ruston Changes Name to Century Next Bank (2/1/19)BOR + FNBC | A Personal Story (1/29/19)How To Purchase A Home (8/15/18)Safe Deposit Box Etiquette (7/25/18)Bank of Ruston is Growing (5/22/18)Six Tips for Your Financial Spring Cleaning (5/15/18)Beneficial Ownership Requirements for Legal Entity Accounts (5/9/18)