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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.