Banking, Safety, Saving

Is it Safe to Keep my Money in a Savings Account?

  • Savings accounts are a safe place to keep your money because all deposits made by consumers are guaranteed by the FDIC for bank accounts or the NCUA for credit union accounts.
  • Deposit insurance for savings accounts covers $250,000 per depositor, per institution, and per account ownership category.

By Amy Foontinelle
Reviewed by Khadija Khartit | Fact checked by Suzanne Kvilhaug
Updated April 20, 2022
https://www.investopedia.com/ask/answers/12/safest-place-for-money.asp

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Is it Safe to Keep my Money in a Savings Account?

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