If someone steals your identity and takes money out of your bank account. Is your money insured from the bank

Question

I know there is 100,000 protection from the bank but does this include identity theft???

Answer 1

Assuming your question is referring to deposits as in your checking account, there are specific timeframes YOU must inform your banking institution of an identity theft or case of fraud has been committed against you.

Unlike credit card balances, your checking and savings deposits can be completely cleaned out if you do not move quickly.

Check with your local bank for changes due to the high volume of identity theft the past 1.5 years (95+ million Americans), but the standard in the past was after 72 hours to 1 week and you would find it exceedingly difficult to get the stolen money recovered.

Answer 2

There is insurance for identity theft If you have a credit card the bank offers it. But you should be covered for any loss over $50. check with you bank.

Answer 3

It all depends. You really should consider an identity theft protection policy. I am an associate for identity theft sheild, if you want they may be able to help you. let me know and I can send you information. The sheild covers all areas of identity theft and they fix the problem. Let me know because I am sure it is a scary thing!!!

Answer 4

If you report the theft to the local police within I think it's 48 hours in most areas, you should be able to recoup at least half of the theft, sometimes more.