i have an E-Money Market acc. at Indymac Bank, is it FDIC insured?

james: i have an E-Money Market acc. at Indymac Bank, is it FDIC insured?

Answers and Views:

Answer by zibi
I have an E money market acct too. Before I opened this acct online, I had an online chat w/ a representative and he/she assured me it is FDIC insured. I believe most money markets are FDIC insured. I also have a first rate money market and that one is FDIC insured as well. This info was provided to me by the bank rep when I deposited my funds in the branch. Let’s pray they did not lie to us.
However, I did find this info (which is the type of money market that we have) on www.fdic.gov

What Is Insured?
You are probably familiar with the traditional types of bank accounts – checking, savings, trust, certificates of deposit (CDs), and IRA retirement accounts – that are insured by the FDIC. Banks also may offer what is called a money market deposit account, which earns interest at a rate set by the bank and usually limits the customer to a certain number of transactions within a stated time period. All of these types of accounts generally are insured by the FDIC up to the legal limit of $ 100,000 and sometimes even more for special kinds of accounts or ownership categories. For more information on deposit insurance see FDIC brochure “Your Insured Deposits.”