Business Sense

Are You Prepared?

Monday, July 09, 2012

Because it’s been almost 100 years since the last major hurricane, Florida officials are working harder than ever to convince individuals and businesses to be prepared.

It’s not just physical property that can be damaged by a big storm. Your finances can take a hit too. Have you considered what you would do if your local bank branches were inaccessible because of flooding or structural damage? Banks are required to be prepared to continue banking services in the event of a disaster.

You should take steps to prepare too. Preparations can include enrolling for direct deposit whenever possible and signing up for online banking to give you access to your account information anywhere, any time. Businesses that rely on getting to the bank to deposit checks can set up Remote Deposit Capture that will allow them to deposit checks from their own location electronically.

For more information on Hurricane preparedness Click Here



NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS 

EFFECTIVE JANUARY 1, 2013

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest bearing transaction accounts, visit www.fdic.gov.


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