FDIC insured account

Definition

A banking account that is protected against loss due to lender insolvency. The maximum insured amount the Federal Deposit Insurance Corporation (FDIC) will provide is $250,000 for each account in an account holder's name. There are requirements that must be fulfilled in order for an account to qualify, such as account structure. For example, checking, savings and money-market accounts qualify for protection under the program, but investment accounts or safe deposit contents do not.

单词	FDIC insured account
释义	FDIC insured account Definition A banking account that is protected against loss due to lender insolvency. The maximum insured amount the Federal Deposit Insurance Corporation (FDIC) will provide is $250,000 for each account in an account holder's name. There are requirements that must be fulfilled in order for an account to qualify, such as account structure. For example, checking, savings and money-market accounts qualify for protection under the program, but investment accounts or safe deposit contents do not.
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