Related Consumer Finance Programs - The following lists of companies and financial service providers offer services to assist you with handling your debts. Combine debt with a consolidation loan or use a credit counseling or debt relief program for help with lowering your payments and getting your credit card bills and other obligations under control.
- Debt Management Programs - Do you feel that your credit card bills are stacking up with nowhere for you to turn? Your problem is not unique. Signing up with debt management firm may be the right solution to your debt problems. Review different firms offering these services to determine if this is the correct option for you.
- Debt Consolidation Services - If you have a large amount of credit card and other debts, now may be a good time to consolidate your debt and lower your payments.
- Debt Settlement Companies - Too much debt? List of companies providing this alternative to bankruptcy that provides for debt negotiation and arbitration services for those that need to eliminate debt.
FDIC Insurance: Do You Know As Much As You Think You Know?
Misconceptions: A Top 10 List
Misconception Number 5: Deposits in different branches of the same bank are separately insured.
FDIC insurance is based on how much money is in various ownership categories (single, joint, retirement, and so on) at the same insured institution. It doesn't matter if the accounts were opened at different branches — they are considered the same bank for insurance purposes.
Distinguishing one bank from another isn't easy these days. Some banks have similar names but they're not the same institution. And then there are banks that use different "trade" names in different parts of the country or use a different name for their online banking activities or Internet divisions, but they're all the same bank for FDIC insurance purposes. The FDIC and other federal regulators have advised banks to clearly identify their legal names in advertisements and on Web sites.
When in doubt, you may contact the FDIC (see the next page). "One way to be extra sure you are depositing money in different banks is to ask the FDIC for each bank's insurance 'certificate number,'" noted Williams. " If the FDIC certificate numbers are different, the banks are different."
FDIC Consumer News is published by the Federal Deposit Insurance Corporation
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Last updated on 5/09/2006