How to Verify a Bank’s FDIC-Insured Status
Posted by Bank CD Rates on 03/3/08 in Online Banking
Here’s a few steps to take when trying to verify a bank’s FDIC insured status:
- Check to see if the bank website has the “Member FDIC” logo.
- Then go to the actual FDIC site to verify that the bank is indeed a member of FDIC. FDIC insured investments are insured up to $100,000.
- On the verification page compare the office address on record at FDIC with that found on the bank’s website.
- It might also help to check out the performance ratings and financial information of the bank. This is strongly recommend if you are looking for a long term relationship and/or investing a sizable amount into this CD or savings account.
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