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 deposit 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 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 following chart
shows standard insurance
amounts for FDIC account
ownership categories.
All deposits that an
accountholder has in the
same ownership category
at the same bank are
added together and
insured up to the
standard insurance
amount.
FDIC
Deposit
Insurance
Coverage
Limits 1
by account
ownership
category |
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
includes IRAs |
$ 250,000
per owner |
| Revocable Trust
Accounts |
$ 250,000
per owner per
beneficiary up
to 5
beneficiaries
(more coverage
available with 6
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 |
To
calculate your
deposit
insurance
coverage
Use the FDIC’s Electronic Deposit Insurance Estimator
(EDIE)
at: www.fdic.gov/edie. |
For
questions about
FDIC coverage
limits and
requirements
Visit www.FDIC.gov/deposit/deposits,
call toll-free
1-877-ASK-FDIC,
or ask a
representative
at your bank. |
The more you know about FDIC deposit insurance coverage, the safer your money.
Depositors should understand their coverage limits and confirm that a financial institution is FDIC-insured.
The FDIC sign, displayed at every FDIC-insured institution, 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 above, 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
resources listed below.
For More Information from the FDIC
Calculate insurance coverage
Use the FDIC’s online Electronic Deposit Insurance Estimator at: www.fdic.gov/edie
Read more about FDIC insurance online
Visit: www.fdic.gov/deposit/deposits
Call toll-free
1-877- ASK-FDIC (1-877-275-3342)
Hearing impaired line
1-800-925-4618
Send questions by e-mail
Use the FDIC’s online Customer Assistance Form at: www2.fdic.gov/starsmail
Mail questions
Federal Deposit Insurance Corporation
Attn: Deposit Insurance Outreach Group
550 17th Street, NW
Washington, DC 20429
