Are Blue Ocean Bank deposits safe?

There are two main ways to save money in Blue Ocean Bank: demand deposits and time deposits. Whether it is current savings or time deposits, they are all standard deposits. Standard deposits can enjoy the national deposit insurance system. In the event of bank bankruptcy or special circumstances, depositors can receive compensation up to 500,000 yuan. So, is it reliable to save money at Blue Ocean Bank? I think the standard deposit business is still very reliable.

Standard deposit business Reliability: five stars Blue Ocean Bank's standard deposit business is the same as the deposit business of other banks. Both current and fixed deposits are protected by deposit insurance. For example, when Blue Ocean Bank files for bankruptcy, the deposit insurance fund management agency will fully repay the deposits within 7 working days, and the compensation amount is limited to RMB 500,000.

Structured deposit business Reliability: three stars Although Blue Ocean Bank's structured deposit also contains the word deposit, it is strictly a financial product rather than a deposit. Then, Blue Ocean Bank cannot be protected by deposit insurance. However, all major banks' structured deposits promise to protect their capital. If losses occur, the banks should also have safeguards in place. As for the level of expected returns, structured deposits are capital-guaranteed financial products with floating expected returns. Although the minimum expected returns are not guaranteed, Blue Ocean Bank's structured deposits have never experienced low expected returns. Depositing money in Blue Ocean Bank is relatively reliable. If it is a current or time deposit, it is protected by deposit insurance. As for Blue Ocean Bank's structured deposits, they are financial products guaranteed by Blue Ocean Bank itself. They are more risky than deposits, and investors need to bear the interest risk.