 TITLE: Are Online Savings Accounts Safe? CONTENT: How Secure Are Online Savings Accounts?\n---------------------------------------\nOnline savings accounts generally are safe and secure, but there are a few steps you should take before you choose a company to bank with. You'll first want to make sure to check whether it's backed by the Federal Deposit Insurance Corp. (FDIC). You can look for the FDIC logo on the bank's website or search the FDIC's BankFind database to learn more about its FDIC status. One of the risks of online banking is that criminals have set up a fake online banking website to siphon money from unsuspecting victims, but a quick check could prevent you from falling victim.\nOnline savings accounts are usually insured by the FDIC, just like traditional banks. If a bank carries FDIC insurance, your account is automatically insured. FDIC insurance covers your deposits up to $250,000 if the bank fails.\nIn terms of security, many online banks strive to keep your personal information out of the hands of hackers and identity thieves. They can't, however, prevent a hacker from getting hold of your account information through means beyond their control, such as if you access your account from an unsecured public Wi-Fi hotspot. When you use an online bank, be sure to adhere to safe internet use practices, including creating a unique and secure password, being careful about the networks you connect to and avoiding phishing attempts. END