Accounts that are insured by the Federal Deposit Insurance
Corp. are covered regardless of whether the bank is virtual, clicks-and-mortar,
or brick-and-mortar. Your money, up to $100,000, is safe at an FDIC-insured
institution.
As always, you should zealously guard the user name and
password of any online accounts. That's the most important security step.
Banks have a pretty good track record when it comes to security.
All banks, whether they are virtual or not, have to abide
by federal privacy laws and regulations. The rules are not particularly
strong. Most financial institutions will share information about
you with corporate affiliates and outside marketers unless you deny
permission. A few have "opt-in" policies, meaning they won't share
your information unless you give permission.