Yes, all NorthOne bank accounts are insured up to the standard maximum deposit insurance amount of $250,000 🙌
What is FDIC insurance?
The Federal Deposit Insurance Corporation (FDIC) is an independent Federal agency insuring deposits in American banks. The FDIC insurance protects those accounts against the risk of a bank’s closing. That means that if your bank were to ever run into trouble, your deposits would always stay safe. You can rest easy knowing that your money stays protected when you bank with NorthOne, whether you are a freelancer, a partnership, or a corporation.
How does FDIC insurance work?
If a bank or financial service company fails, the FDIC will insure up to $250,000 of deposits per individual or business with accounts in that bank.
FDIC and NorthOne
All NorthOne bank accounts have FDIC insurance. This is because NorthOne has partnered with Bancorp Inc., a federally chartered bank and a member of the FDIC. That means that up to $250,000 of deposits made in your NorthOne account are insured.
Find more information about how the FDIC helps protect your money on the FDIC website.