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Is my money safe? What you need to know about bank failures

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Associated Press

NEW YORK (AP) — Recent bank failures may have you worried about your money. But there’s no need for concern if your money is in a bank insured by the Federal Deposit Insurance Corp. and you have less than $250,000 there. If the bank fails, you’ll get your money back. If you have over $250,000 in one bank, that amount is considered uninsured and experts recommend that you move the remainder to a different financial institution. Nearly all banks are FDIC insured. You can look for the FDIC logo at bank teller windows or on the entrance to your bank branch.

Article Topic Follows: AP National

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The Associated Press


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