The FDIC has a bank locator tool that allows users to go online and put the name of the bank into the database to see if the bank is covered by the FDIC. If the bank that you are interested in does not show up with the exact name and address of the bank in question, do not complete an application. You may also read reviews of the banks on the Internet, and ask family or friends if they have used the bank. Most people will know someone who uses an online bank.