Do online savings accounts such as Discover and Amex have the same protections as a local or national Bank?

Terry Says

Yes, both of those are FDICi sured up to the limits. Always look for that FDIC logo and written promise

You know many people fell for the scam of “crypto savings accounts” with very high rates. They called themselves savings accounts, but they were NOT FDIC insured. Millions were lost when they declared bankruptcy.