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Frequently Asked Questions

• Is my money safe in the bank?
  • Yes! National banks are insured by the Federal Deposit Insurance Corporation (FDIC) which protects up to $250,000 per person per institution. So for any event that may affect a financial institution’s health or viability, whether a natural disaster or default, a customer’s money is insured through this federally regulated mandate.
• Is my money safe in the bank during a recession?
  • Yes. Any money you have deposited into a checking, savings or another type of bank account is safe during a recession. Major banks are FDIC insured therefore you are covered for the full balance of your account typically up to $250,000.
• Which is the safest bank in the world?
  • Since all major banks are insured by the FDIC, all rank similarly when it comes to safety. The FDIC insures up to $250,000 per person per account and per bank. This is the same cap for a credit union, though they are insured under the National Credit Union Administration.
• What’s the No.1 bank in America?
  • Based on the number of branches and ATMs available as well as customer service hours and products offered, Chase Bank is the No. 1 largest bank in the U.S. with a presence in nearly all 50 states as well as a network of 16,000 ATMs.
• What are the top 10 biggest banks?
  • The Federal Reserve regularly reports on the biggest banks in America, determined by the number of branches/ATMs available as well as services provided for customers. With that in mind, the top 10 currently include, in alphabetical order: Bank of America, Capital One, Chase Bank, Citibank, Goldman Sachs, PNC Bank, TD Bank, Truist Bank, U.S. Bank and Wells Fargo.