Understanding FDIC: What Happens to Your Deposits?
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TikTokalexisanddean
Understanding FDIC: What Happens to Your Deposits?
Explore what the FDIC going away means for your deposits and insurance. Get informed about banking protections! #FDIC #insurance #banking #financialfreedom Alexis and Dean(@alexisanddean). original sound - Alexis and Dean. Is the FDIC going away? What happens to insurance on your deposits? #FDIC #insurance #banking #money #usd #usdollar # ...
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The money you have in the bank is insured up to the FDIC limit of $250,000. However, if you bank with a bank that is chartered in the state of Massachusetts, it likely has additional insurance in the form of DIF. DIF will cover all deposits over the $250,000 FDIC limit. Since 1934 no one, with money on deposit in a Massachusetts chartered bank, has lost a dime due to a bank going bankrupt. ##boston##ma##fdic##dif##insurance##personalfinance##svb##bankrun##banks
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