FDIC Insured Deposits

Federal insurance protection up to $250,000 per depositor per account type.

What is the FDIC?

The FDIC — short for Federal Deposit Insurance Corporation — is an independent agency of the U.S. government that protects depositors of insured banks against the loss of their deposits should an insured bank fail.

Anyone or any entity can have FDIC insurance coverage. You don't have to be a U.S. citizen or resident to have your deposits insured by the FDIC.

FDIC insurance is backed by the full faith and credit of the U.S. government. Since the FDIC began operations in 1934, no depositor has ever lost a penny of FDIC-insured deposits.

FDIC Coverage Basics

FDIC insurance covers depositors’ accounts at each insured bank, dollar for dollar, including principal and any accrued interest through the date of the insured bank’s closing, up to the insurance limit.

FDIC insurance covers all types of deposits at an insured bank but does not cover investments, even if they were purchased at an insured bank.

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What the FDIC Covers

Checking accounts
Negotiable Order of Withdrawal (NOW) accounts
Savings accounts
Money market deposit accounts (MMDA)
Term deposits such as certificates of deposit (CDs)
Cashier’s checks, money orders, and other official items issued by a bank

What the FDIC Does NOT COVER

Stock investments
Bond investments
Mutual funds
Life insurance policies
Annuities
Municipal securities
Safe deposit boxes or their contents
U.S. Treasury bills, bonds or notes*

*These investments are backed by the full faith and credit of the U.S. government.

The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

The FDIC insures deposits you hold in one insured bank separately from any deposits you may own in another separately chartered insured bank. For example, if you have a certifcate of deposit at Bank A and a certifcate of deposit at Bank B, the amounts would each be insured separately up to $250,000. Funds deposited in separate branches of the same insured bank are not separately insured.

The FDIC provides separate insurance coverage for funds that depositors may have in different categories of legal ownership, referred to as “ownership categories.” This means that a bank customer who has multiple accounts may qualify for more than $250,000 in insurance coverage if the customer’s funds are deposited in different ownership categories and the requirements for each ownership category are met.

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FDIC Insured Deposits

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