Signature Bank Is Throwing A Party After U.S. Treasury, FDIC & Federal Reserve Put On Deposit Guarantee Cloak
Are you a Signature Bank customer? Well, throw on your dancing shoes because you and all of your fellow depositors are now able to enjoy the greatest safety dance of all thanks to the U.S. Treasury, Federal Deposit Insurance Corporation (FDIC) and Federal Reserve’s unprecedented move to guarantee deposits at the bank.
It’s a party of true guarantor proportions.
Why The Unprecedented Move?
The move was put into place to provide stability and liquidity to the banking system during the economic downturn. It means that even if Signature Bank fails, the Treasury, FDIC and Federal Reserve will cover all deposits up to the FDIC insurance limit – a number that currently sits at $250,000 per depositor.
Simply put, it means your funds are covered, up to the insured limit.
How To Shake Your Money Maker With Confidence
So, what do you need to do in order to get your safety-dance on?
- Check with the FDIC website to make sure your bank is insured.
- Review your income and expenses to determine how much you should save.
- Open an FDIC-insured account and begin transferring funds.
- Review the terms and conditions of your account to make sure you understand your rights as a depositor.
So, What Are You Waiting For?
No need to wait any longer. You now have the assurance that Signature Bank is insured and backed by the U.S. Treasury, FDIC and Federal Reserve. So, what are you waiting for?
Go. Get your safety dance on.
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