1. Your account is now FDIC insured up to $250,000 through December 31, 2013
A law recently passed now extends the increase in FDIC coverage to at least $250,000 per depositor, per institution through December 31, 2013.
The FDIC provides insurance up to $250,000 for deposits held in different account ownership categories at an FDIC-insured institution. Both of Capital One's banking institutions, Capital One Bank (USA), N.A., and Capital One, N.A., are separately insured institutions. You can find your banking institution on your paper statement.
Corporate and partnership account deposits are also insured up to $250,000 at each institution and are insured separately from the personal accounts of the entity's stockholders, partners, or members.
For additional FDIC insurance information, we encourage you to visit the FDIC’s Web site - www.fdic.gov, or call 1-877-ASK FDIC
(1-877-275-3342).
2. Your balance is not tied to the performance of securities
There are several important differences between your Capital One Direct Banking Money Market Account and money market funds.
| Money Market Account | Money Market Fund |
| A deposit account | Invests in short-term securities such as Treasury bills and government or corporate bonds |
| Insured by the FDIC, currently up to $250,000 | Not insured by the FDIC |
| Earn interest based on rates set by banks | Value of deposits and earnings may fluctuate based on the performance of securities |
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The bottom line: Your money market account is like a traditional savings account. It gives you the security and dependability that money market funds cannot.
3. We’ve established a track record for over 10 years
Capital One Direct Banking has been helping customers grow their money for over 10 years—much longer than many online banks. Capital One Direct Banking is part of Capital One, a leader in financial services with more than $100 billion in total deposits. We take very seriously the level of trust we’ve built with our customers.
We also appreciate the trust you, personally, have placed with us, and look forward to helping you continue to grow your money, safely and securely.
The information provided is not intended to be a legal interpretation of the FDIC's laws and regulations on insurance coverage.
