Is My Money Safe if I Open a Bank Account for the Promotions?


Often times you will see me post promotions from banks and might wonder if they are safe. I want to let you all know that I will never promote a bank that is not FDIC or NCUA insured.

What does it mean to be FDIC insured?
FDIC stands for the Federal Deposit Insurance Corporation which was created by Congress to protect your money. Any bank that is insured by the FDIC has met strict government standards. You're money is protected, up to $250,000.

What does it mean to be NCUA insured?
NCUA stands from the National Credit Union Administration. Similar to the FDIC, NCUA protects your money if you choose a credit union. Since credit unions are run differently than banks, the FDIC doesn't deal with them. You should note that your money is still insured up to $250,000.

Don't deals have fine print that will end up costing you?
While this is possible, I make sure to read the fine print for you and point out anything you need to know. Most promotions will require a minimum deposit and you will forfeit the bonus if you close the account too soon. That doesn't mean you shouldn't also read the fine print, but I do try not to post deals that have tons of fees or rules attached to the accounts.


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