Just like superheroes, savings accounts have their own shields and weaknesses! 🦸‍♀️

The Federal Deposit Insurance Corporation (FDIC) is like your account's personal bodyguard, protecting your money! 🛡️

Each account is insured up to $250,000 by the FDIC.

It's like a safety net for your savings! 💰

So if your bank shuts down, the FDIC makes sure your funds are safe up to $250,000 💰

The FDIC also works to prevent banks from failing 🦺

They do this by making sure banks aren’t spending too much of your savings on investment to grow it 📝

But watch out! 👀

Money in the average savings account is guaranteed to lose value over time due to inflation 😔

This is why you should avoid saving 100% of your money, as you want to give it the chance to grow too 🚀

On the day to day, banks will look out for fraudulent transactions 🔍

If they see something suspicious, like a transaction in another state, then your bank will block the transaction 🛑

Overall, the FDIC works to make sure your bank is being responsible 💪

And your banks step in to make sure you’re being responsible 🥳