Step confidently toward your goals with Webster Five Bank's savings and Money Market accounts
Whether it's saving for a special purchase or creating a financial cushion for peace of mind, our Worcester County, MA, neighbors open these accounts to prepare for tomorrow.
Everyday Money Market
All it takes is $10 to open this account and start building your savings.
Amplify Money Market
Tiered rates mean your interest rate increases with your deposits.
Frequently Asked Questions
As a depositor in this bank, all your deposits and accrued interest are insured in full, without limit or exception.
All deposits above the FDIC limit are insured in full by the Depositors Insurance Fund. The first $250,000 per depositor is insured by the Federal Deposit Insurance Corporation (FDIC); all deposits above this amount are insured by the Depositors Insurance Fund (DIF).
The FDIC was established by the U.S. Congress in 1922 with a mission to insure bank deposits. Originally set at $2,500, the FDIC’s per-depositor limit has increased over time to its current coverage of $250,000.
The DIF is a private, industry-sponsored excess deposit insurance company. Created by a special act of the Massachusetts legislature in 1932, the DIF began operations as a primary insurer in 1934. Today, the DIF insures all deposits in its member banks in excess of the FDIC’s $250,000 per depositor limit.
DIF insurance is available only on deposits in Massachusetts-chartered savings banks. By combining FDIC primary insurance and DIF excess deposit insurance, Webster Five provides you with full insurance.
Visit www.fdic.gov or www.difxs.com for more.
If you have any further questions regarding deposit insurance, please call 800-696-9401.
