Banking on the US

By THIS IS MONEY
Updated:

 

DO banks in America offer the same level of investor protection as British banks? CM

Brian Capon at the British Bankers' Association says: The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the US government and protects against the loss of deposits if a bank or savings association insured by FDIC fails. The basic insurance limit is $100,000 per depositor per insured bank.

The fdic.gov website has further information on the scheme, the extent of cover and the types of deposit insured. You also can check if a particular institution is insured.

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