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Is National Penn Bank protected by some kind of deposit insurance?
Wiki User
∙ 12y ago
National Penn Bank is protected by a deposit insurance by the government. The insurance is known as FDIC.
Wiki User
∙ 12y ago
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What did congress establish to insure bank deposits?
The Federal Deposit Insurance Corporation (FDIC).
How does government sponsored deposit insurance affect your decision deposit money in a bank?
If the deposits in one bank are insured by the government sponsored deposit insurance whereas, in another bank this insurance is not available, it means that in case the first bank goes bankrupt, the government will give me my hard earned money that I put into my account with that bank, whereas it won't do anything if the other bank that does not have deposit insurance goes bankrupt and I stand to lose my hard earned money. So, I will deposit my money only in a bank that has the FDIC insurance on deposits available.
What did the Federal Deposit Insurance Corporation (FDIC) insure?
bank deposit
Is your money just as protected in an internet bank as it is in a traditional bank?
Internet banking is just as safe as traditional banking institutions. Both are covered by CDC deposit insurance that covers up to $100,00 of savings.
The federal deposit insurance corporation insures bank deposits up to how per deposit?
100,000
What is the abbreviation for the Bank Insurance Corporation?
The initials are FDIC for federal deposit insurance corporation.
Is a cashiers check insured by the fdic?
It depends on if the bank is a member of the Federal Deposit Insurance Corporation or not. If you get a cashiers check from a bank that is insured by the Federal Deposit Insurance Corporation, then that check is insured.
What is deposit insurance?
Deposit insurance is a system taken by banks to guard a situation either fully or in part, against any possibility that would prevent the bank from returning said savings. Deposit insurance are mostly run by the Government and may or may not be part of a central bank.
The federal Deposit Insurance Corporation insures bank deposits up to how much per deposit?
100,000
Are your deposits at national city bank at risk?
Any deposit under $100,000 is fully insured by the FDIC (Federal Deposit Insurance Corporation, government agency). See http://www.fdic.gov/about/learn/symbol/index.html
What is presently a major deterrent to bank panics in the US?
deposit insurance
What do the letters FDIC stand for in relation to a bank?
Federal Deposit Insurance Corporation
