Last Updated 15 April 2013
Q Are The State Bank of Hildreth deposit accounts FDIC insured?
AThe FDIC – short for the Federal Deposit Insurance Corporation – is an independent agency of the United States government. The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. Any person or entity can have FDIC insurance coverage in an insured bank. A person does not have to be a U.S. citizen or resident to have his or her deposits insured by the FDIC.
What does FDIC deposit insurance cover?
FDIC insurance covers all types of deposits received at an insured bank, including deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, money market deposit account (MMDA), time deposit such as a certificate of deposit (CD), or an official item issued by a bank (such as a cashier's check or money order).
FDIC insurance covers depositors’ accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank’s closing, up to the insurance limit.
The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments are purchased at an insured bank.
The FDIC does not insure safe deposit boxes or their contents.
The FDIC does not insure U.S. Treasury bills, bonds or notes, but these investments are backed by the full faith and credit of the United States government.
How much insurance coverage does the FDIC provide?
The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank. For example, if a person has a certificate of deposit at Bank A and has a certificate of deposit at Bank B, the accounts would each be insured separately up to $250,000. Funds deposited in separate branches of the same insured bank are not separately insured.
The FDIC provides separate insurance coverage for funds depositors may have in different categories of legal ownership. The FDIC refers to these different categories as “ownership categories.” This means that a bank customer who has multiple accounts may qualify for more than $250,000 in insurance coverage if the customer’s funds are deposited in different ownership categories and the requirements for each ownership category are met.
Q How do I set up Direct Deposit of my payroll check?
A After your checking application has been approved by The State Bank of Hildreth, you will receive the bank's routing and transit number and your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company and your direct deposit will usually begin within thirty days.
Q How do I set up Direct Deposit of my Social Security check?
A After your checking application at The State Bank of Hildreth has been approved, you will receive the bank's routing and transit number and your account number. Simply call 1-800-772-1213, and have your social security number and account information available to set up your direct deposit right over the phone.
Q Can I get information about my account by phone?
A Yes! Customer Service is available daily between the hours of 8:30 am - 4 pm Monday through Friday, or 8:30 am - 6:00 pm on Thursdays. Simply call (308) 938-2155.
Q Can businesses have accounts at The State Bank of Hildreth?
A Our Regular Checking Account is available to corporations, partnerships, and sole proprietorships. This account is tailored to meet the needs of companies while providing additional services to keep account balancing simple.
Q Does The State Bank of Hildreth offer IRAs?
A Yes, The State Bank of Hildreth offers IRAs to any person with earned income who is under the age of 70 1/2, and pays interest at a variable rate .
Q Can I open an account if I don't live in the US? What about if I live in the US but am not a citizen yet?
A As stated on our application, at this time we only accept applications from persons residing within the United States with valid US tax identification numbers. If you have questions, contact us. We'd like to hear from you.
Q Can I do all of my banking with The State Bank of Hildreth ?
A Yes! Thanks to the convenience of Direct Deposit, ATMs, and the Visa checkcard, everyday banking activities can be performed from the comfort of home. Contact us with questions about your banking needs.
Q How do I make a deposit to my account from a remote location?
A You can do most of your banking by using direct deposit, ATMs, or ACH (Automated Clearing House) transactions. The State Bank of Hildreth also offers a bank-by-mail service which allows you to mail non-recurring deposits. Contact us for details on a method that's best for you.