The Federal Deposit Insurance Corp. says some funky things are happening with certificates of deposit.

The FDIC says there’s a game going on at some companies that can’t actually deliver an insured CD, but they’re selling them anyway.

The game goes like this: The company advertises high-rate, insured CDs. But you have to visit the office to get one. Then you find out that a minimum deposit is required and you may have to endure a sales pitch for other products. If you actually want the CD, you are then sent to a terminal to buy the CD over the Internet from the bank that’s actually FDIC-insured.

Protect yourself. Always check to see if the bank where you are buying the CD is FDIC-insured, really. And if the rate is far higher than normal (you can find normal at www.bankrate.com), ask why.

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