Is my money safe? -, South Georgia News, Weather, Sports

Is my money safe?

By Karen Cohilas - bio | email

July 29, 2008

ALBANY, GA (WALB) - As bank failures become more common, more people worry about the security of their money. If your bank is FDIC insured and you have less than $100,000 in that bank, you're okay.

The Federal Deposit Insurance Corporation will cover up to $100,000 per depositor per insured bank, and some accounts are covered up to $250,000. Security Bank President and CEO Mark Lane says all banks are heavily regulated by the FDIC, but if you want to make sure your money is secure, just ask your banker. He said, "Take a deep breath. It's going to be okay. Their deposits, for the most part, are safe. If they want to look into more FDIC insurance, there's ways to protect your money a little bit more."

If you have less than $100,000 in your account don't sweat it, all of your money is insured by the FDIC.


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