1. Your money is safe. Keeping cash in your home puts 

an account at an FDIC-insured bank anywhere across 

the nation ensures that your money is protected in 

the event of disaster. In addition, when you open an 

account in an FDIC-insured bank, your money is safe in 

the unlikely event that the bank fails. You do not need 

to apply for this insurance; coverage is automatic. 

2. Your money is protected against error and fraud. 

Federal laws protect you in the event of a debit card 

error or unauthorized electronic transaction as long 

as you notify your bank in a timely manner.

3. You get your money faster with no check-cashing 

fees. When your money is direct-deposited into an 

FDIC-insured bank account, you get access to your 

money sooner than you would with a paper check. 

You can also save money by not having to pay 

check-cashing fees.

4. You can make online purchases with ease and peace 

of mind. Some bank accounts provide you with a debit 

card you can use to shop online. If your account is with 

an FDIC-insured bank, federal law limits your loss in the 

event of an unauthorized online transaction.

5. You have access to other products from the bank. 

Once you have established a relationship with a bank 

through a bank account, you can consider other 

financial products to help you achieve your financial 

goals: credit cards, auto loans, and home mortgages.

6. You can transfer money to family and friends with 

ease. Person-to-person payments and mobile app 

payments have become a part of everyday life for many 

people. With an FDIC-insured bank account, you can 

use these services and apps to send money to your 

friends and family without having to write a check, 

swipe a card, or hand them cash. 

7. You have proof of payment. Whenever you purchase 

an item with a checking account or a debit card you 

have the proof you paid on your monthly statement. 

8. You can keep an eye on how much money you have.

You can use your monthly statements to track your 

spending, create a budget, compare your budget to 

your spending, and keep an eye on your payments 

and balances.

9. You can set useful alerts. Most mobile banking 

systems allow you to sign up for alerts to notify you if 

the balance in your FDIC-insured account drops below 

a set dollar amount or set spending limit. This can 

receive text alerts if your bank sees suspicious activity 

in your account. (Learn more about how to prevent 

our .)

10. You can pay your bills from wherever you are. 

Your bank’s electronic bill-pay services generally 

allow you to receive, review, and pay bills online 

from a smartphone, tablet, or computer.

TOP REASONS TO 

#GETBANKED

Opening a bank account can be one of the most 

important steps you take toward reaching your 

financial goals. Why? Because putting your money 

financial safety, easy access to your funds, savings 

from check-cashing fees, and overall financial peace 

of mind. If you do not currently have a bank account, 

but have been thinking about opening one, here are 

some things you should consider.

FOR MORE INFORMATION ON FINDING THE RIGHT TYPE OF ACCOUNT FOR YOU, GO TO WWW.FDIC.GOV/GETBANKED.

Federal Deposit 

Insurance Corporation