Is Gate City Bank FDIC-insured?

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.

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.

The standard Federal Deposit Insurance Corporation (FDIC) limit is $250,000 per depositor, per bank. To calculate your own deposit insurance coverage, please visit the FDIC’s deposit insurance estimator.

There are a number of reasons why checks may not be able to be deposited using the mobile app:

• Folded or torn corners.
• The front image is not legible.
• The amount entered doesn’t match the amount read by the scanning software.
• The routing and account numbers are unclear.
• The image is too dark.
• Endorsements are missing from the front or back of the check.

If you or your business would like assistance getting started with remote deposit capture, a member of our treasury management consulting team can help! Training details will depend on the location and the needs of the business. Contact us for more information.