What are you looking for?
Priorities we’re fighting for
Actions you can take
Policy & Issues
Credit Union Magazine
CU Rock Star
Learn More about Member Value
Learn more about the benefits of membership.
» Google Wallet funds now FDIC-insured
Google Wallet funds now FDIC-insured
April 20, 2015
MOUNTAIN VIEW, Calif. (4/21/15)--Mobile payments made through Google Wallet will soon be insured through the Federal Deposit Insurance Corp. (FDIC) (
Typically, the FDIC insures banking funds up to $250,000, but funds stored in prepaid debit cards and most mobile wallet services are not protected.
As of now, Google Wallet's user agreement says balances are not FDIC-insured. However, a Google spokesperson confirmed in a statement to
that its current policy has changed.
The company will hold wallet balances in multiple banking institutions that are FDIC-insured, which means if anything were to happen to the company, users funds' would be protected.
Other prominent mobile wallet services, such Venmo and PayPal, do not offer FDIC insurance for users who leave cash in their accounts.
Google Payments handles consumers’ fin. data
Google boosts Android Pay with payment-network support
Compare puts Google in Calif. mortgage market
To build on recent successes, CUNA reorganized its advocacy staﬀ and goals.
The New Advocacy Army
Volunteers and young professionals make a powerful impression with legislators.
Community, Compassion, and Coaching
Life experiences have shaped the five executives selected as Credit Union Heroes.
25 & Counting
The CUNA Marketing & Business Development Council celebrates its 25th anniversary.
S. 2155 passes Senate in major reg relief win for CUNA, CUs
Compliance: CU obligations for service animal accommodations
D.C. appeals court overturns parts of TCPA rule
Tweets from @CUmagazine and @CUNA_News
Does your credit union offer domestic partner benefits?