Yes, because Quontic is a Member FDIC, your deposits are secured for up to $250,000. FDIC deposit insurance covers the balance of each depositor’s account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank’s closing. The FDIC insures all types of deposits received by a financial institution including:
- Checking accounts
- NOW accounts
- Savings accounts
- Money market deposit accounts
- Certificates of deposit (CDs)
For more information about deposit insurance, visit the FDIC’s web page.