BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Federal Deposit Insurance Corporation (FDIC) insures depositors against losing their money in the case of a ____
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lost debit card
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stolen paycheck
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bank failure
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death in the family
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Explanation:
Detailed explanation-1: -The FDIC protects the money depositors place in insured banks in the unlikely event of an insured-bank failure. Each depositor is insured to at least $250, 000 per insured bank. FDIC deposit insurance covers all types of deposits held at an insured bank.
Detailed explanation-2: -Since the founding of the Federal Deposit Insurance Corporation in 1933 no depositor has lost a penny of FDIC-insured funds.
Detailed explanation-3: -The standard insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category.
There is 1 question to complete.