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Are OnBank deposit accounts covered by FDIC insurance?

April 26, 2017accounts Covered deposit FDIC Insurance onbank

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Are OnBank deposit accounts covered by FDIC insurance?

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Yes, subject to applicable limits. Deposit accounts opened through the OnBank division of M&T Bank, N.A. are aggregated with all other deposit accounts at M&T Bank, N.A. for purposes of determining the amount of FDIC insurance coverage available to each depositor.