How much deposit insurance coverage do I qualify for?

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government that protects bank customers against the loss of their insured deposits in the event that an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the U.S. government.

Customers of FDIC-insured banks, including Gate City Bank, are covered by the FDIC for up to $250,000 per depositor, per bank.

Deposit insurance through the Federal Deposit Insurance Corporation (FDIC) protects bank customers in the event an FDIC-insured financial institution fails. It’s available for any deposit account opened at an FDIC-insured bank; there’s no need to purchase it!

Deposit insurance is calculated dollar-for-dollar up to FDIC limits – factoring in the principal amount plus any interest accrued or due to the depositor – through the date of default. The FDIC has created an insurance estimator that you can utilize for more information on how this may personally impact you.

Yes. We’re proud of our longtime relationship with the Federal Deposit Insurance Corporation (FDIC), which goes back since 1935!

Learn more about the FDIC and our commitment to keeping your money safe and secure.

To update your address, phone number or email in online banking, simply navigate to “Tools,” then select “Settings” and “Contact.” If you’re using the mobile app, go to “More,” then tap “Settings” and “Contact Information.” You can also contact us anytime, and we’ll be happy to assist you!

The day a deposit shows up in your account largely depends on how it’s deposited:

• In person: When made during regular business hours, deposits will often show up in your account right away. However, there are certain cases where the wait time may vary.
  • For example, if you’ve deposited over $5,525 in checks in one day, the remaining funds could take up to seven business days to show up.
• Mobile deposit: As long as your deposit is under the $5,000 limit, once it has been accepted, funds are generally reflected in your account within one business day.
• Domestic direct deposit: Funds are typically available the same day we receive them.
• Night drop: Any deposit made using the night drop after business hours will typically be completed at the beginning of the next business day (unless it’s a holiday).
• Business remote deposit capture: These deposits typically post to an account within one business day.

If you have questions about when your deposit will post to your account, please contact us. We will be happy to assist you!