Insured account

Insured account

A bank or financial account that is insured for the benefit of the depositor, protecting against loss in the event that the savings institution becomes insolvent. See: FDIC.

Insured Account

A bank account on which some organization has placed a guarantee that funds will be available to the account holder. That is, if the bank becomes insolvent, insured accounts are safe and depositors will be able to access/retrieve their money, at least up to a certain amount. These accounts are almost always insured by government-sponsored organizations, such as the FDIC. Insured accounts exist in order to reduce pressures that might result in bank runs.
References in periodicals archive ?
Instead of lapsing or surrendering a life insurance policy, the death benefit is converted into a “living benefit” in the form of an irrevocable, FIDC insured account that makes monthly payments automatically to the account holder's choice of care provider.
Misrepresentation #3: The FDIC only pays a fixed amount per dollar in each insured account.
No one has ever lost a cent in a federally insured account.
The Suite empowers insurers to manage advanced underwriting processes across an insured account, using a single enterprise-wide view of the insured and enabling multiline quoting.
This tax free interest rate, guaranteed through 2010, on the balance in an FDIC insured account is comparable to a 5.
For the first time, insurers can manage advanced underwriting processes across an insured account, providing a single enterprise-wide view of the insured and enabling multi-line quoting so that underwriters can make faster and better decisions and deliver superior customer service.
With a secured credit card, the customer deposits money in to an FDIC insured account where it is used as security for a credit line.
If necessary, move some of those dollars to an insured account at another bank.
Funds are deposited into a federally insured account at Inter National Bank (Member FDIC), one of NetSpend's issuing banks.
Metals contained in these accounts are securely stored in insured accounts at International Depository Services of Canada (IDS).
The integration with the information system of XBC gave rise to the flexibility to send electronic payment information directly to the insured accounts, and get the money debited from there.