The recent collapse of online bank NetBank has left a lot of people nervous. It is the biggest bank failure since the early 1990s. While the cost to taxpayers is unknownr, the FDIC should cover everything. When this type of thing happens the federal regulators walk in, they try to package the bank's assets and get them in somebody else's hands.  The transition from NetBank to ING has generally been smooth for customers. Those who were most at risk of losing money were people with more than $100,000 in their accounts. It's always better to be safe and only invest less than $100,000 in any bank. That way your money is protected.