Q.
We're a bit nervous about what to do with our savings account with a national bank. Will all our money be insured if our bank goes under?
A.
Unless you have more than $100,000 in an account, you're safe if your bank goes, well, bankrupt. Any FDIC-insured bank will cover up to that amount, plus an extra $100,000 for a joint account and up to $250,000 for retirement accounts. If your bank folds, call or make an appointment to find out how it plans to proceed. In most cases, another bank will buy it, so you can decide to close your account (you'd have to withdraw your funds in person) or let the new bank take on your account. For the latter, you probably won't have to do much other than sign an agreement and wait for your new ATM card to come in the mail.