Many online banks you encounter in our rankings of the best money market, savings, and CD accounts are actually online divisions of existing brick-and-mortar banks. If the parent bank is FDIC-insured, then the online division is too. Some internet-only banks do exist. But not to worry: Online banks can carry the same FDIC coverage as a physical bank. So if the online bank's website says "FDIC member" or sports the FDIC logo, your deposits there are protected up to $250,000 in exactly the same fashion as at a brick-and-mortar bank.