system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: What happens to my money if my bank closes down?
gpt
If you're in the US, your checking and/or savings account is almost certainly insured by the US government for up to $250,000. The FDIC (the agency insuring it) will generally try to have failing banks bought by another bank, in which case you become a customer of that new bank. If that proves impossible, the US government pays out the account value.