The FDIC, or Federal Deposit Insurance Corporation, is an independent agency created by Congress to maintain stability
and public confidence in the nation's financial system. The FDIC provides deposit insurance to protect your money in the
event of a bank failure. Your deposits are automatically insured to at least $250,000 at each FDIC-insured bank.
Yes, you can! Many banks offer accounts with low or no minimum balance requirements. This means you don't need a lot of money to open and keep your account.
That's okay. Some banks offer 'second chance' banking, which is designed for people who have had banking problems
before. These accounts can help you rebuild your banking history. Also, certified Bank On
accounts have low and transparent costs and don’t allow overdraft or
insufficient fund fees.
Yes, many banks allow you to open an account even if you're not a U.S. citizen. You might need different forms of identification, like a foreign passport, a consular ID, or Individual Taxpayer Identification Number (ITIN).
You can deposit money by visiting a bank branch, using an ATM, through direct deposit from your job, or by using a mobile app to deposit checks.
Yes, many banks offer accounts specially designed for young people. These accounts often have features to help kids and teens learn about saving and managing money.
Most banks offer online banking and mobile apps where you can check your balance, see transactions, and manage your account anytime on your computer or mobile device. You can also receive alerts about your account balance.
Report your lost debit card to your bank right away. Federal laws can protect you in the event of a debit card error or
unauthorized electronic transaction under certain circumstances, so contact your bank as soon as possible to report your
lost card get a replacement card.
If you're interested in understanding more about banking and how it can benefit you, the FDIC's Money Smart program is a fantastic resource. This free educational program offers valuable information on managing finances, budgeting, and using credit wisely. It's designed to help you make informed banking decisions and improve your financial health.
We're thrilled you're interested in helping! To get involved, visit our Get Involved page. There, you'll find a variety of resources like handouts, online ad graphics, a social media toolkit, and more, which you can use to spread the word in your community or through your personal or social networks. Your support plays a crucial role in empowering more people to take control of their financial future.
The #GetBanked campaign started during the COVID-19 pandemic to help people learn how to open a bank
account online, especially for receiving tax refunds or government stimulus payments quickly and safely. In April
2021, the FDIC initiated a public awareness campaign in Atlanta and Houston, using various media ads in English and
Spanish to inform about banking benefits. The campaign expanded in 2022 to Dallas, Detroit, and Los Angeles,
focusing on the tax season and promoting the use of direct deposit for tax refunds.
The FDIC's work on accessible banking goes back over a decade. In 2010, the agency began to help identify accounts that were
transparent, affordable, sustainable, and insured by the FDIC (i.e., Model Safe Accounts). Inspired by the FDIC’s
Model Safe Account, the
Cities for Financial Empowerment (CFE) Fund established the
Bank On National Account Standards, including accounts that have low and transparent costs
and no overdraft fees and are fully functional. Over 400 accounts at more than 300 banks have been independently
certified by the National Consumer Law Center and are are certified under these standards, with widespread national
availability. The campaign and collaborations like Bank On aim to reach people new to banking and spread awareness
about the benefits of having a bank account.