often called a banker's check payable to a third party is drawn by the bank's own funds in exchange for the amount specified in the check, plus, in most cases, a service fee. deposit insurance. insurance program that protects depositor funds against the failure of the insured depository institution.
Laura should invest $100,000 in a money market deposit account (MMDA) of Best Bank and invest $100,000 in an asset management account of Trust Bank. Keeping valuables in a safe-deposit box may reduce your homeowner's insurance premium by eliminating the "riders" that are often needed to cover such items.