You aren't protected by FDIC. If you don't follow their procedures, you can be stuck. I spoke to Ally where I have six figures and they were evasive, only saying every case is investigated. I have $240K in 5 year CDs at both NASU CU and Northrup Grumman CU. Are you telling me these can vanish completely and I have no protection if someone gets my password?
Answers
BTW, what are these FDIC "procedures" we are supposed to follow? Can you advise where I can find them so I can make sure I am following them? Thanks!
https://www.forbes.com/sites/moneybuilder/2013/01/15/what-happens-if-your-bank-account-is-hacked/#3d8131e677aa
It is better to be safe, or at least safer, than sorry. It is imprudent to have on deposit at a single financial institution any more money than you can afford to lose owing to fraud, against which neither the FDIC nor the NCUA offers protection.
ETA
Personal anecdote
I have never lost money at any financial institution because of fraud. But a large account of mine was penetrated. The misdeed was done not by bank employees, but instead by persons employed by a third party services company, trusted and paid by the bank, and given access to bank premises and our accounts.
Even though I lost no money, and the bank apologized, this was not an enjoyable thing to experience.
Just a humble suggestion, though, which might make your life a tad bit easier:
Consider storage of all your bank links, and any other sensitive links you prefer not exposing to hackers, on a thumb drive. You would plug in the thumb drive as required, and unplug it immediately following use of the data it contains. This could save you some Googling while still providing electronic access to your critical addresses and links.
I personally make extensive use of thumb drives in order critical and personal information not be exposed to the net while I am online.
My Dell desktop is W7. Does it have a "thumb" in it I can access? If, yes, then is it easy enough for even "me" to find it?? Thanks for any help!
You can store whatever files, whatever information, you wish on the thumb drive. But once you detach the thumb drive from your online computer, the information it contains no longer can be accessed by hackers. Thus, in your situation, you would attach the drive for only a brief amount of time, then remove it.
If you have a child or grandchild in your life, that person would most likely be able to demonstrate all this for you. Then you could decide if the idea works for you, or not. Thumb drives are useful for all sorts of information storage, stuff you do not want available to hackers. To offer examples of things oftentimes used when opening new accounts, I store the following on thumb drives:
*copy of signature
*copy of driver's license
*copies of telephone and utility bills
*copy of ACC certificate
*copy of social security card
*etc.
Ready access to all those things speeds matters along when one is applying for a new banking account. But none of that stuff is anything one would want to expose to hackers.
I bought my first thumb drive roughly fifteen years ago, a tiny 256MB drive. It still works and remains in use today. But drives available now have MUCH larger capacity and upgraded speeds (USB 3.0 and better).
Finally have no fear, Windows 7 does a fine job with thumb drives. I know this because I use Windows 7 myself.