Wednesday, 26 November 2008

• Sigh . . .

  For some reason, my bank reminding me why it's safe to keep my money with them is not reassuring at all.
  
  Dear ALVIN SO,
  
  Good news! Citibank is participating in the FDIC's Temporary Liquidity Guarantee Program. Through December 31, 2009, all of your non-interest and interest bearing checking deposit account balances are fully guaranteed by the FDIC for the entire amount in your account. *
  
  And as a reminder, in October the FDIC increased the amount of insurance on eligible savings accounts -- such as savings, market rate, money market accounts, club and holiday accounts, and certificates of deposits -- from $100,000 to $250,000 through December 31, 2009.**

  To learn more about FDIC insurance, visit the agency's web site at www.fdic.gov or call a Citibank representative at 1-800-374-9700. You may also call the FDIC at 877-ASKFDIC (877-275-3342) or TDD 800-925-4618.

  
  --------------------------------------------------------------
  Dear ALVIN SO,
  
  We previously communicated that through December 31, 2009 all of your non-interest and interest bearing checking deposit account balances are fully guaranteed by the FDIC for the entire amount in your account.*
  
  We wanted to send a clarification as to why your interest bearing checking accounts at Citibank are and will continue to be covered to an unlimited extent through December 31, 2009. Citibank interest checking accounts are classified as Negotiable Order of Withdrawal (NOW) accounts and will pay an interest rate within the guidelines set by the FDIC through December 31, 2009. These features qualify your Citibank Interest Checking Accounts for current and continuing coverage with unlimited insurance under the Transaction Account Guarantee Program.

  To learn more about FDIC insurance, visit the agency's web site at www.fdic.gov or call a Citibank representative at 1-888-CITIBANK. You may also call the FDIC at 877-ASKFDIC (877-275-3342) or TDD 800-925-4618.

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