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.
When you deposit your money at a community or online bank, your money is insured by the FDIC up to $250,000
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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.
True. When you deposit your money at an FDIC-insured community or online bank, your funds are protected up to $250,000 per depositor, per insured bank, for each account ownership category. This insurance helps ensure the safety of your deposits in case the bank fails. If you have more questions or need further assistance, feel free to ask!