GREENSBORO, N.C. — Online banks are becoming an attractive option for people looking to save money. But behind some of those options are criminals looking to steal your money.
Many criminals pose as divisions of legitimate banks, making it even more confusing. There's a simple way to research this.
The Federal Deposit Insurance Corporation protects your money when a bank fails but it also offers a database of banks under its membership. Just search a bank and it'll show all the important information. If you still can't find them call 877-ASKFDIC (877-275-3342).
If you're considering an online credit union, check with the National Credit Union Administration. It has a similar search function. They also have a number you can call 800-755-1030