Banking and Deposit Accounts

Banking and deposit accounts are the checking, savings, and similar accounts that banks and credit unions offer to hold people's money. Federal and state regulators charter and supervise these institutions, and federal deposit insurance backs balances up to set limits if an institution fails. Separate agencies cover banks and credit unions, and consumer protection rules cover fees and disclosures.

People usually bring questions about how deposit insurance works and what it does not cover, how credit unions differ from banks, and what rules govern overdraft and other fees. They also ask how to open an account, what happens to money at a failed institution, and where to complain about a bank.