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CITI Bank:Important FDIC Coverage Update.

 
grrttsgar
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User ID: 827202
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11/25/2009 09:35 PM
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CITI Bank:Important FDIC Coverage Update.
How does the FDIC protect my deposit accounts?

Citibank Checking Accounts will have full FDIC Coverage. Citibank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2009, all non-interest and interest-bearing1 Citibank checking accounts are fully guaranteed by the FDIC for the entire amount in the account.2

* For consumers, this program covers your non-interest or interest-bearing checking accounts in a Citibank Access Account, Basic Checking, Citibank® EZ Checking, The Citibank Account, Citibank Everything Counts® Account, The Citigold® Account, and Student Checking.
* For business customers, all CitiBusiness Checking accounts are fully guaranteed through December 31, 2009. CitiBusiness interest checking accounts include accounts held by sole proprietors; not-for-profit corporations; the Interest on Lawyers' Trust Accounts (IOLTA); Interest on Trust Accounts (IOTA); and Interest on Lawyer Accounts (IOLA).

Note: Beginning January 1, 2010, Citibank will no longer participate in the FDIC's Transaction Account Guarantee Program. Thus, after December 31, 2009, funds held in noninterest-bearing transaction accounts (non-interest and interest-bearing checking accounts) will no longer be guaranteed in full under the Transaction Account Guarantee Program, but will be insured up to $250,000 under the FDIC's general deposit insurance rules.
Savings and Money Market Accounts. Deposits at FDIC-insured institutions are now insured up to $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor.3

1. Citibank interest checking accounts are classified as Negotiable Order of Withdrawal (NOW) accounts and will pay an interest rate within the guidelines set by the FDIC through December 31, 2009. These features qualify your Citibank Interest Checking Accounts for current and continuing coverage with unlimited insurance under the Transaction Account Guarantee Program.

2. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

3. The deposit insurance coverage limits refer to the total of all deposits that an accountholder (or account holders) has at each FDIC-insured bank.

[link to online.citibank.com (secure)]

I don't have a ton of money in the bank but damn somethings in the wind.

The accounts used to be fully insured and are now dropping to $250,000 coverage.

If TSHTF there are going to be a lot of broke millionaires just like in the Great Depression. WOW.

Last Edited by grrttsgar on 11/25/2009 09:37 PM
grrttsgar  (OP)

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11/25/2009 09:38 PM
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Re: CITI Bank:Important FDIC Coverage Update.
Trying to find a link hold tight.
[link to online.citibank.com (secure)]

Last Edited by grrttsgar on 11/25/2009 09:39 PM
Anonymous Coward
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11/25/2009 09:40 PM
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Re: CITI Bank:Important FDIC Coverage Update.
Trying to find a link hold tight.
[link to online.citibank.com (secure)]
 Quoting: grrttsgar


I bank with them and saw this message on my online account this morning.
grrttsgar  (OP)

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11/25/2009 09:41 PM
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Re: CITI Bank:Important FDIC Coverage Update.
Sorry the link is copy and paste but can't find another way to make it work.
grrttsgar  (OP)

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11/25/2009 09:42 PM
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Re: CITI Bank:Important FDIC Coverage Update.
Trying to find a link hold tight.
[link to online.citibank.com (secure)]


I bank with them and saw this message on my online account this morning.
 Quoting: Anonymous Coward 729053

Thats F$%^& up if you ask me.

I don't have that much in the bank but what if????for those that do?
Anonymous Coward
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11/25/2009 09:58 PM
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Re: CITI Bank:Important FDIC Coverage Update.
Trying to find a link hold tight.
[link to online.citibank.com (secure)]


I bank with them and saw this message on my online account this morning.

Thats F$%^& up if you ask me.

I don't have that much in the bank but what if????for those that do?
 Quoting: grrttsgar


I'm don't have much either so it doesn't affect me. Those that do will transfer their money to other institutions so it's probably a good idea to watch for any news on citi in the next few weeks. Stock price didn't change much today so maybe it's not that big a deal. Time will tell.

[link to www.marketwatch.com]
Anonymous Coward
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11/29/2009 10:40 PM
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Re: CITI Bank:Important FDIC Coverage Update.
Trying to find a link hold tight.
[link to online.citibank.com (secure)]


I bank with them and saw this message on my online account this morning.

Thats F$%^& up if you ask me.

I don't have that much in the bank but what if????for those that do?


I'm don't have much either so it doesn't affect me. Those that do will transfer their money to other institutions so it's probably a good idea to watch for any news on citi in the next few weeks. Stock price didn't change much today so maybe it's not that big a deal. Time will tell.

[link to www.marketwatch.com]
 Quoting: Anonymous Coward 729053


Aren't they up to their eyeballs in Dubai?





GLP