“You may continue to use your checks and ATM/Debit card. Will I still have access to banking services?įirst Republic customers will have many of the same banking conveniences that they had before the bank was taken over. (JPM) Bank, National Association, branches to process their accounts as well,” the FDIC said. “Customers of First Republic Bank should continue to use their existing branch until they receive notice from JPMorgan Bank, National Association, that it has completed systems changes to allow other JPMorgan Chase Should I start banking at Chase branches? “All transferred deposits will be separately insured from any accounts you may already have at JP Morgan Chase Bank, N.A. One quirk to note: If a First Republic customer already has Chase accounts, the transfer of their deposits to Chase will not count against their total balances at the bank initially. “Deposits will continue to be insured by the FDIC, and customers do not need to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits,” the FDIC said. Beyond FDIC insurance: How protected is your money outside of banks?
