True or False: When you deposit your money at a community or online bank, your money is insured by the FDIC up to $250,000.

Question

A.
TRUE
B.
FALSE

Answer 1

A. TRUE

When you deposit your money at a community bank or an online bank that is a member of the Federal Deposit Insurance Corporation (FDIC), your deposits are typically insured up to $250,000 per depositor, per insured bank, for each account ownership category.