Deposit Insurance At A Glance

Deposit Insurance At A Glance

Since the FDIC began operations in 1934, the FDIC sign on bank teller windows has served as a symbol of financial safety and security. When you visit a bank, whether in person or online, and see the FDIC Official Sign, you know the financial institution is backed by the full faith and credit of the United States government, and that your money on deposit is safe.

Consumers have a variety of options for where they can deposit their money and how they can access banking products and services. However, FDIC deposit insurance is only available for money on deposit at an FDIC-insured bank.

This brochure provides basic information about the types of accounts that are insured, coverage limits, and how the FDIC insures your money if your bank fails.

For more detailed information about deposit insurance coverage, our Your Insured Deposits brochure may be helpful.

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What types of deposits are insured?

At FDIC-insured banks, the FDIC insures money in deposit products, including:

• Checking Accounts
• Negotiable Order of Withdrawal (NOW) Accounts
• Savings Accounts
• Money Market Deposit Accounts (MMDAs)
• Time Deposits, such as Certificates of Deposit (CDs)
• Cashier's Checks, Money Orders, and other official items issued by a bank

The FDIC does not insure:

• Stock Investments
• Bond Investments
• Mutual Funds
• Crypto Assets
• Life Insurance Policies
• Annuities
• Municipal Securities
• Safe Deposit Boxes or their contents
• U.S. Treasury Bills, Bonds, or Notes*
  *These investments are not insured by the FDIC, but they are backed by the full faith and credit of the U.S. government.

How do I know that my money is insured?

FDIC insurance coverage is automatic when you open a deposit account at an FDIC-insured bank. You can confirm that your bank is insured by searching for it in the BankFind tool available on our website at www.fdic.gov or you can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342).

How much of my money is insured?

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. When calculating an individual’s coverage amount, the FDIC adds together all of the deposit accounts you hold in the same ownership category at the same bank regardless of the deposit type (e.g., Certificates of Deposit (CDs), checking, savings, or money market deposit accounts (MMDAs)).

This means that if you have deposits in different account categories at the same FDIC-insured bank, your insurance coverage may be more than $250,000, if all requirements are met.

If you have accounts at different FDIC-insured banks, the limit applies at each bank: $250,000 per depositor for each account ownership category.

You can calculate your specific insurance coverage amount using the Electronic Deposit Insurance Estimator (EDIE), a calculator that is available on the FDIC’s website.

If my bank fails, how does the FDIC protect my money?

Deposit insurance coverage protects depositors against the failure of an insured bank; it does not protect against losses due to theft or fraud, which are addressed by other laws. In the unlikely event of a bank failure, the FDIC acts quickly to ensure that all depositors get prompt access to their insured deposits. FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's failure.

In many cases, a failed bank is acquired by another FDIC-insured bank. When this occurs, customers of the failed bank are able to access their money through the acquiring bank.

In the event a failed bank is not acquired by another bank, the FDIC conducts a quick and thorough process to identify all customers, calculate their deposit insurance coverage, and provide their money to them as quickly as possible.

When your money is in an FDIC-insured bank, you can rest assured. Since 1934, no depositor has lost a penny of their FDIC-insured funds.