FDIC Insurance

FDIC Insurance protects bank depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. Zil provides small-medium businesses with FDIC-insured checking accounts.

Sign up on Zil to open a US FDIC-insured checking account 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.

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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

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) in the event an FDIC-insured bank fails. Deposits are insured up to at least $250,000 per depositor, per FDIC insured bank, and per ownership category.

Are my Deposit Account FDIC Insured?

Zil 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.

Are my Deposit Account FDIC Insured
Checking Account

Checking Account

Zil offers checking accounts for varied financial purposes. Customers can open account and finances from a variety of possibilities.

Mobile banking, online bill payment, and account alerts make Zil ‘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.

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.

No More Hidden Fees

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 the loss of your deposit accounts (such as checking and savings) if your FDIC-insured bank fails. Zil provides businesses FDIC insured checking accounts to make ACH transfers and international wire transfers at a minimum transaction fee.

Are all bank accounts FDIC insured?

No, all banks are not 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 (C.D.s). Zil online banking provides U.S. FDIC-insured checking accounts at no minimum balance fee or monthly fee.

What is insured by FDIC?

The FDIC covers insurance for deposit accounts, including

· Checking accounts
· Negotiable Order of Withdrawal (NOW) accounts
· Savings accounts
· Money Market deposit accounts (MMDA)
· Time deposits such as certificates of deposits (C.D.s)
· Cashier’s checks, money orders, and other official items issued by a bank

What amount of insurance coverage do I have for my accounts?

The insurance coverage by Federal Deposit Insurance Corporation on deposit accounts like checking and saving accounts is $250,000 per deposit.

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 amount but has fewer transaction limits on withdrawals. A checking account is suitable for daily transactions and purchases.

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