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FDIC Insured Account

FDIC Insured Account Definition

FDIC Insured Account is a bank account on which the Federal Deposit Insurance Corporation has placed a guarantee that funds will be available to the account holder. An FDIC Insured Account has to be in a bank that is participating in the FDIC program. If this bank becomes insolvent, depositors will be able to get their money up to a specified amount. The accounts that can be FDIC insured are NOW, checking, savings, Certificate of Deposits and money market deposit accounts.




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