If you’ve been reading the news lately, you may have heard of the recent news on bank troubles. With this in mind we wanted to clear up any questions you have on whether your money is safe.
Is your money safe?? Of course. The FDIC has been around since 1933, with the sole purpose of guaranteeing the money of depositors is safe in times of bank uncertainty. The FDIC steps in and assumes control of banks that are on the edge of serious trouble (and serious trouble is defined as not having enough operating capital to continue to operate as a bank) and guarantees the money is there, up to $100.000 per depositor.
The good thing is you don’t have to worry about any of this at Bank of Internet. Watch this recent report from TheStreet.
Uncertain about your money in other banks? Open a Bank of Internet Checking Account Today and not only have your money be safe but earn one of the highest rates in the country – 3.40% APY! Apply Now!