Is my money insured by the FDIC?
Asked 6 months ago
Yes, your money deposited with The Bancorp Bank is insured by the Federal Deposit Insurance Corporation (FDIC). The standard deposit insurance coverage is up to $250,000 per depositor, per ownership category. This means that if you have funds in different ownership categories, such as individual accounts, joint accounts, or certain retirement accounts, each account may be eligible for separate FDIC insurance coverage. The FDIC is an independent agency of the United States government that protects depositors against the loss of their deposits if a bank fails. The coverage provided by the FDIC gives you peace of mind knowing that your money is protected and backed by the full faith and credit of the United States government.
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