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FDIC Coverage

 

The following chart shows standard insurance amounts for FDIC account ownership categories. All deposits that an account holder has in the same ownership category are added together and insured up to the standard insurance amount.
 

Category

Insurance Amount

Single Accounts owned by one person

$250,000 per owner

Joint Accounts owned by two or more persons

$250,000 per co-owner

Certain Retirement Accounts including IRAs

$250,000 per owner

Revocable Trust Accounts

$250,000 per owner per beneficiary up to five beneficiaries (more coverage available with six or more beneficiaries subject to specific limitations and requirements)

Corporation, Partnership and Unincorporated Association Accounts

$250,000 per corporation, partnership or unincorporated association

Irrevocable Trust Accounts

$250,000 for the non-contingent, ascertainable interest of each beneficiary

Employee Benefit Plan Accounts

$250,000 for the non-contingent, ascertainable interest of each plan participant

Government Accounts

$250,000 per official custodian

 

FDIC Deposit Insurance Coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers all deposit accounts, including checking and savings accounts, money market accounts and certificates of deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities.

The standard insurance amount currently is $250,000 per depositor, per insured bank for each account ownership category The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met. (For details on the requirements, go to www.fdic.gov/deposit/deposits.)

The more you know about FDIC deposit insurance coverage, the safer your money.

To ensure funds are fully protected, depositors should understand their coverage limits and confirm that a financial institution is FDIC-insured.

The FDIC sign is displayed at every FDIC-insured institution and is a symbol of confidence for depositors. There is no need for depositors to apply for FDIC insurance or even to request it; coverage is automatic, up to the insurance limits described, whenever a deposit account is opened at an FDIC-insured bank or savings association. To learn more about the FDIC's insurance coverage rules and requirements, refer to the following resources.

For More Information from the FDIC:

  • For general information and FAQs, visit www.fdic.gov
  • Calculate insurance coverage by using the FDIC's online Electronic Deposit Insurance Estimator at: www.fdic.gov/edie
  • Read more about FDIC insurance online by visiting www.fdic.gov/deposit/deposits
  • Call toll-free at 1-877-ASK-FDIC (1-877-275-3342)
  • Hearing impaired line: 1-800-925-4618
  • Send questions by e-mail using the FDIC's online Customer Assistance Form at: www2.fdic.gov/starsmail

 

Send your questions via postal mail to:

Federal Deposit Insurance Corporation
Attn: Deposit Insurance Outreach Group
550 17th Street, NW
Washington, DC 20429

 

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