Do Checking Accounts Have FDIC Insurance?

When you put your money in a bank, you want to know it’s safe. Not just tucked away, but truly protected. After all, this is your money we are talking about—your hard-earned cash for groceries, gas, rent, or that last-minute online shopping spree. So here's a question worth asking: Are checking accounts FDIC insured? Let’s break it down!

What Does FDIC Mean?

FDIC stands for the Federal Deposit Insurance Corporation—a government agency created after the Great Depression in 1933 to protect consumers (like you!) from losing money if a bank fails. Basically, FDIC insurance is a safety net for your funds.

FDIC insurance covers up to $250,000 per depositor, per insured bank, per account ownership category. That is a fancy way of saying your money is protected (up to that $250,000) even if the worst happens and your bank shuts down.

So why does FDIC insurance matter? It plays an important role in maintaining stability in the United States financial system. When people are confident that their deposits are protected, they are less likely to withdraw large amounts of money during times of economic uncertainty. Ultimately, FDIC insurance helps prevent panic and keeps the banking system functioning smoothly.

And for you, it means one less thing to worry about. Your money is protected, even when the unexpected happens.

What is a Checking Account?

A checking account is a type of deposit account that keeps your funds readily available. It is your go-to account for everyday money moves—paying bills, using your debit card, writing checks, withdrawing cash from ATMs, and more.

There are all kinds of checking accounts out there, each with different features and benefits. Some earn interest, some offer rewards, while others are tailored to students and businesses. But no matter the type, they all are meant to give you easy access to your money.

Do Checking Accounts Have FDIC Insurance?

Yes! Checking accounts at FDIC-member banks (which some people call “FDIC-insured banks” or “FDIC banks”) are covered. So, as long as your account meets the criteria and is held at the right bank, your money is protected up to the FDIC limit of $250,000. This adds a layer of protection you hope you will never need, but you will be glad to have it if something goes wrong.

Academy Bank’s FDIC-Insured Checking Accounts

As a bank insured by the Federal Deposit Insurance Corporation, Academy Bank is proud to protect our clients while providing checking accounts for a variety of purposes and goals.

What is the best checking account for your needs?

• Simply Free Checking Account¹ — Your everyday finances just got simpler. Enjoy a hassle-free and carefree banking experience with no monthly service charges and no minimum balances.
• Select Rewards Checking Account^† — This bank account goes above and beyond the norm with a lineup of extra perks, including fuel savings, roadside assistance, buyers’ protection, and discounts to thousands of retailers.²
• Elite Investment Checking Account — Do checking accounts earn interest? This one can!  Elite Investment Checking is a tiered-earning account, which means you earn more when you keep a higher balance.
• Student Checking Account — This account is perfect for students under the age of 23, featuring no monthly service charges, free access to a network of ATMs, and digital banking tools for students on the move!
• Business Checking Accounts — Each of our business checking options is designed for different company sizes in mind, from startups to large corporations.

Ready to find the right fit? All Academy Bank checking accounts have FDIC insurance, along with unique features to support your financial goals. Get started today!

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