OCOM DI Message Te FDIC Deposit Insurance Education Campaign: Message Testi

Deposit Insurance Education Campaign: Message Testing Survey

OMB Control No. 3064-0198

Expiration Date: January 31, 2024

PRA Burden Statement

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid Office of Management and Budget (OMB) control number. The FDIC “Deposit Insurance Education Campaign: Message Testing Survey” constitutes a collection of information under the Paperwork Reduction Act which has been cleared by OMB under Control Number 3064-0198 (expiration date January 31, 2024). Public reporting burden for this information collection is estimated to be approximately 30 minutes. You can send comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, to the Paperwork Reduction Act Clearance Officer, Legal Division, Federal Deposit Insurance Corporation, 550 17^th Street NW, Washington, DC 20429; and to the Office of Management and Budget, Paperwork Reduction Project (Re: Control Number 3064-0198), Washington DC 20503.

1. Which of the following do you have or use? (select all that apply)
   [RANDOMIZE ORDER OF RESPONSE OPTIONS BELOW TO AVOID POTENTIAL FOR ORDER BIAS]

• Checking account

• Savings account

• CD or Certificates of Deposit

• Cryptocurrency

• Annuity

• ETF or Exchange-traded fund (pooled investment fund of stocks or bonds traded on exchanges)

• None of these [ANCHOR RESPONSE OPTION TO APPEAR AT BOTTOM]
  
  

2. How often, if at all, do you use mobile payment services such as PayPal, Venmo, Cash App, Zelle, Apple Pay, or Google Pay?

• Daily

• Weekly

• Monthly

• Less Often

• Never
  
  

3. How confident are you that your money is or would be safe in a bank account?

• Very confident

• Somewhat confident

• Neither confident nor unconfident

• Somewhat unconfident

• Very unconfident
  
  

4. To what degree do you agree or disagree with each of the following statements?
   [RANDOMIZE ORDER OF RESPONSE OPTIONS BELOW TO AVOID POTENTIAL FOR ORDER BIAS]
   
   

	Strongly Agree	Somewhat Agree	Somewhat Disagree	Strongly Disagree
I avoid risk when it comes to my finances				
I prefer high-risk, high-reward when it comes to my finances				
My future financial security is extremely important to me				
I consider myself to be well-informed financially				
I stay on top of the latest financial information				

5. Have you heard of the Federal Deposit Insurance Corporation, or FDIC?

• Yes

• No

• Don’t know/not sure
  
  

6. The Federal Deposit Insurance Corporation, or FDIC, is a government agency that maintains financial stability and public confidence in our nation’s banks by providing deposit insurance and examining banks for safety and soundness. How familiar are you with the FDIC?

• Very familiar

• Somewhat familiar

• Not very familiar

• Not at all familiar
  
  

7. Before today, had you heard of “deposit insurance”?

• Yes

• No

• Not sure
  
  

8. Deposit insurance is the government's guarantee that your money at an insured bank is protected up to a certain amount in the event of a bank failure. How familiar are you with deposit insurance?

• Very familiar

• Somewhat familiar

• Not very familiar

• Not at all familiar
  
  

9. Which of the following dollar amounts do you think is the standard limit of deposit insurance?

• $50,000

• $100,000

• $250,000

• $500,000

• $1,000,000

• No limit

• Don’t know/not sure
  
  

10. How likely are you to consider the availability of deposit insurance when deciding where to place your money?

• Very likely

• Somewhat likely

• Not very likely

• Not at all likely

11. Next, we’d like your opinion of some potential messages from the FDIC about deposit insurance.
    Please rate how appealing each of the following is to you.
    [RANDOMIZE ORDER OF RESPONSE OPTIONS BELOW TO AVOID POTENTIAL FOR ORDER BIAS]
    [RESPONDENTS WILL BE SHOWN SIX OF THE EIGHT MESSAGES BELOW FOR RESPONSE; THOSE BOXED BELOW WILL NOT BE SHOWN TOGETHER AND ROTATED ACROSS RESPONDENTS FOR COMPARATIVE PURPOSES]

	Very Appealing	Somewhat Appealing	Not Very Appealing	Not At All Appealing
Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it’s how the FDIC protects your money in the unlikely event of a bank failure.				
FDIC deposit insurance enables consumers to confidently place their money at thousands of FDIC-insured banks across the country and is backed by the full faith and credit of the United States government.				
If a bank fails, FDIC deposit insurance covers the depositor for all insured deposits, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's failure.				
Depositors have insurance up to the applicable limit for deposits held in a U.S. branch of an FDIC-insured bank.  The availability of deposit insurance is not limited to citizens and residents of the United States.				
Depositors do not need to apply or pay for FDIC insurance. Coverage is automatic for any deposits held in a deposit account at an FDIC-insured bank.				
If you open a deposit account in an FDIC-insured bank, you are automatically covered by deposit insurance.				
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.				
Each depositor is protected by at least $250,000 in deposit insurance coverage in each insured bank.				

12. Financial products and services are comprised of banking (e.g., checking, savings, loans, etc.), mortgages, credit cards, payment services, and investing. Which of the following sources of information do you use when researching financial products and services? (select all that apply)
    [RANDOMIZE ORDER OF RESPONSE OPTIONS BELOW TO AVOID POTENTIAL FOR ORDER BIAS]

• Search engines (e.g., Google, Bing, Yahoo)

• Customer reviews

• In-person bank visit

• Website of bank or other financial institution

• Friends and family

• Social media

• Online forums

• Financial experts

• Government websites

• The FDIC

• News articles or stories

• Advertising

• Financial advisor/accountant

• Other [ANCHOR RESPONSE OPTION TO APPEAR AT BOTTOM]

• None of the above [ANCHOR RESPONSE OPTION TO APPEAR AT BOTTOM]
  
  

13. What is your age? Select only one.

• 18-26 [CLASSIFY AS GEN Z]

• 27-42 [CLASSIFY AS MILLENNIALS]

• 43-58 [CLASSIFY AS GEN X]

• 59-77 [CLASSIFY AS BABY BOOMERS]

• 78+ [CLASSIFY AS SILENT/GREATEST]

• Prefer not to answer
  
  

14. What is your race and ethnicity? (select all that apply)

• White

• Hispanic, Latino, or of Spanish origin

• Black or African American

• American Indian or Alaska Native

• Asian

• Native Hawaiian or Other Pacific Islander

• Other

• Prefer not to answer
  
  

15. What is the highest level of education that you have completed? Select only one.

• Less Than High School

• High School 

• College/University 

• Graduate School

• Other

• Prefer not to answer
  
  

16. What is your annual household income before taxes? Select only one.

• Under $30,000

• $30,000 - $59,999

• $60,000 - $84,999

• $85,000 - $99,999

• $100,000 - $149,999

• $150,000-$199,999

• $200,000+

• Prefer not to answer
  
  

17. Are you…?

• Male

• Female

• Other

• Prefer not to answer