To safeguard up to $5m of FDIC protection

Landing Rock, a provider of Insured Deposits Direct, has increased its insurance protection for all account types to $5m, doubling its previous coverage.

Frank Bonanno, director of marketing at Landing Rock, said: “Raising the FDIC insurance protection to $5 million is an important step in our overall product offering. As individuals’ savings rates continue to rise and businesses maintain a heightened demand for expanded levels of FDIC insurance, Insured Deposits Direct offers a convenient and logical solution to meet our customer needs head-on.”

Insured Deposits Direct enables all account types, including individuals, trusts, partnerships, UGMA/UTMA, and businesses to safeguard up to $5m of FDIC protection through one account while earning interest on all cash.

Mr Bonanno added: “Consumers now enjoy 20 times the FDIC protection available in a traditional bank account with the convenience of 100% daily liquidity through checks or debit card. This advancement truly distinguishes Landing Rock’s Insured Deposits Direct as the premier cash management solution.”