For example, Savings will often be deposited into a bank savings account where the funds will earn a nominal amount of interest and will be insured in most cases. In the United States, bank savings and checking accounts are insured by the Federal Deposit Insurance Corporation or FDIC. Savings accounts in countries other than the United States carry different terms that may even include different currency deposit options. Most major countries have their own versions of deposit insurance to protect the Savings accounts of the customers of financial institutions. Savings represent an important part of an individual’s, as well as a nation’s, basic assets.