Transcript:
Ever seen the phrase “Member FDIC"?
You'll see it displayed at most banks or talked about…
…around products like checking and savings accounts.
But what does FDIC mean?
FDIC stands for the “Federal Deposit Insurance Corporation." It's the agency that insures bank deposits.
If a member bank can't pay back its depositors, the FDIC makes sure you get your money back…
…up to $250,000…
…from a variety of bank deposit accounts.
How reliable is FDIC insurance?
The agency's website claims that no depositor “has ever lost a penny of insured deposits since the FDIC was created in 1933."
And that's why “Member FDIC" matters.
So that's FDIC. Find more ways to know and grow your money at Synchronybank.com.
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