Do Online Banks Really Keep Your Money Safe?

Do Online Banks Really Keep Your Money Safe?
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Anne Johnson
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You’ve probably heard about the latest banking trend. Online banking is top of mind when earning high interest rates on your savings, checking, and money market accounts. They sound too good to be true.

But you want more from a bank than high interest rates; you want safety. With identity theft and hacking prevalent, anything online could be deemed as vulnerable. Does that include your money? Are online banks a safe place to keep your money?

Online Banks Covered by FDIC

The Federal Deposit Insurance Corporation (FDIC) is an independent agency that protects deposits in the event of a bank failure.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.
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