FDIC Insurance
FDIC Insurance protects bank depositors against losing their insured deposits if an FDIC-insured bank or savings association fails. The cloud-based platform provides small- and medium-sized businesses with FDIC-insured checking accounts with no minimum balance requirement or monthly fee.
We Offer You the Best
0
initial fee
No initial fees or hidden fees to open account with us.
0
maintenance fees
Enjoy hassle-free banking services with no maintenance fees.
0
minimum deposit
Start your banking journey with zero minimum deposit.
0
initial fee
No initial fees or hidden fees to open account with us.
0
maintenance fees
Enjoy hassle-free banking services with no maintenance fees.
0
minimum deposit
Start your banking journey with zero minimum deposit.
What is FDIC Insurance?
The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects bank customers against the loss of their insured deposit accounts (such as checking and savings accounts) if an FDIC-insured bank fails. Deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank, and per ownership category.
Is My Deposit Account FDIC Insured?
ZilBank provides FDIC-insured checking accounts for business owners. You can open a U.S. bank account remotely from anywhere and enjoy a business checking account to make ACH and international wire transfers at a minimum transaction fee.
Checking Account
ZilBank offers checking accounts for various financial purposes. Mobile banking, online bill payment, and account alerts make ZilBank’s checking accounts convenient for mobile banking. Customers may also see their account statements and transaction history online or on the mobile app to track their account activity in real-time. ZilBank also offers checking accounts with no minimum balance requirement or hidden fees.
No More Hidden Fees
The online banking Zil makes it simple to obtain a checking account that is fee-free. Customers of Zil are not required to have a minimum balance or pay any monthly service fees, unlike those of regular banks. Additionally, opening a checking account with Zil doesn’t require a minimum deposit. Customers who wish to manage their money and stay away from unwanted fees and charges will find it to be an appealing alternative because of this.
FREQUENTLY ASKED QUESTIONS
What is FDIC insurance?
The FDIC, or Federal Deposit Insurance Corporation, is a U.S. federal agency that protects you up to certain limits against losing your deposit accounts (such as checking and savings) if your FDIC-insured bank fails. ZilBank provides businesses with FDIC-insured checking accounts to make ACH and international wire transfers at a minimum transaction fee.
Are all bank accounts FDIC insured?
No, not all banks are insured by the Federal Deposit Insurance Corporation. FDIC deposit insurance only covers certain deposit products, such as checking and savings accounts, money market deposit accounts, and certificates of deposit (CDs). ZilBank provides U.S. FDIC-insured checking accounts at no minimum balance or monthly fee.
What is insured by FDIC?
The Federal Deposit Insurance Corporation (FDIC) safeguards depositors' funds by providing insurance coverage for various types of deposit accounts. This includes traditional checking accounts, Negotiable Order of Withdrawal (NOW) accounts, savings accounts, Money Market Deposit Accounts (MMDA), and time deposits such as certificates of deposits (CDs). Additionally, the FDIC extends protection to financial instruments issued by banks, such as cashier's checks, money orders, and other official items. By insuring these deposit accounts and financial instruments, the FDIC plays a crucial role in promoting stability and confidence in the U.S. banking system, assuring depositors that their funds are protected up to certain limits in case of a bank failure.
Saving Account vs Checking Account
A savings account has higher interest rates and transaction limits; it is used to deposit and save money. A checking account offers a lower interest rate on deposit amounts but has fewer transaction limits on withdrawals. A checking account is suitable for daily transactions and purchases.
Make Business Easy with Zil
At Zil.US, we pledge to provide convenient and efficient services to our customers to make business operations easier.