RICHMOND, Va. (WRIC) — The recent collapse of banks such as Silicon Valley Bank and Signature Bank has stirred the concerns of people all across the country, leading many to ask, “is my money safe?”
With its headquarters based in Charlotte, N.C., Truist Bank has a number of Virginia customers as well — with over 250 branches across the Commonwealth.
According to the Truist Bank website, deposits of up to $250,000 are FDIC insured for bank customers.
“Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it’s how the FDIC protects your money in the unlikely event of a bank failure,” an explanation on the FDIC website reads. “The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.”
Virginia customers with other banks can check if they are FDIC insured using the government’s BankFind Suite online.