Go to ATM to deposit money, and the mobile phone receives a text message, which is deposit insurance. What's going on here?

This means that their bank has joined the national deposit insurance system. If the deposit is less than 500 thousand, even if their bank fails, they will pay you in full.

Deposit insurance, also called deposit protection, refers to the establishment of a special deposit insurance fund by the state through legislation.

It is clear that when there are problems in the operation of individual financial institutions, depositors will be paid in time in accordance with regulations to protect their rights and interests.