Generally, the money you place in a checking or savings account is safe. You can, however, potentially lose money in a checking or savings account if:
Your funds are not with an FDIC-insured bank or NCUA-insured credit union.
You have more than $250,000 on deposit and the financial institution fails.
You’re a victim of bank fraud and you don’t promptly report the fraud to your financial institution (e.g., within 60 calendar days of the date of your bank statement).