Are Online Banks Safe? » Audio Archive » Faith & Finance

Are Online Banks Safe?

Faith & Finance

Christian talk radio with Rob West

August 7, 2023

: www. certifiedkingdomadvisors. org As the banking industry is heavily regulated, bank closures are rare and isolated. Online banks are just as safe as brick-and-mortar banks, as long as they are federally insured. The Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) both insure deposits up to $250,000 per person, per institution. Cyber security is important for both online and brick-and-mortar banks, and customers must take steps to protect their accounts. Online banks often offer higher interest rates and lower fees than traditional banks, making them a popular choice for many customers. On today's program, Rob also answers listener questions about investing in a livestock contract, structuring a will, purchasing I-bonds, and when it is wise to buy a home as opposed to renting.

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