Sentences with phrase «event of a bank failure»
But no matter how reliable a bank is, every consumer should be certain that their funds are insured and will be restored to them in the unlikely event of a bank failure.
savingsaccounts.com
In the unlikely event of a bank failure, account holders get their funds back just about immediately as long as the amount is under the FDIC - insured amount.
If you have more money than that in the bank, spreading the funds among different institutions allows you to be fully covered in the event of bank failure.
You'll have instant access to your funds through an ATM, the backing of the FDIC in the event of a bank failure, and the convenience of a local branch office.
The primary benefit of sweeping uninvested cash balances to a bank deposit program is to obtain FDIC insurance, which protects your cash against losses in the event of a bank failure (up to $ 250,000 per bank per account type and up to $ 1.5 million allocated across banks in this program).
In the event of a bank failure, those with membership in the Federal Deposit Insurance Corp (or FDIC), have accounts that are insured.
In the event of a bank failure, you're insured for up to $ 250,000 per insured bank, with the insurance applying to each ownership category.
In the unlikely event of a bank failure, Baird will submit proof of the deposit amount to the FDIC on behalf of each client owning deposits through Baird in the defaulted bank.
Federal Deposit Insurance Corporation insurance covers CDs, so in the event of a bank failure your money is protected up to the FDIC insurance limit, which is $ 250,000 as of 2010.
FDIC insurance coverage protects funds up to $ 250,000 per depositor, per institution in the event of a bank failure, and banks that carry it are required to display the FDIC emblem prominently in their branches or on their website.
With the recent meltdown of financial institutions, some lawyers have been wondering whether and how client funds held in a lawyer's IOLTA account are be covered by FDIC insurance in the event of a bank failure.