Each depositor insured to at least $250,000 per insured bank

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FDIC Consumer News - Fall 2001

Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

  Special Report on FDIC Insurance 

4. Sorry, that is incorrect.

The correct answer is "False."

Until a cashier's check, money order, interest check or other official check is cashed or deposited elsewhere and it "clears" the bank it is drawn on, the funds are still considered to be on deposit at that bank. So, if that bank fails before the check clears, the FDIC will combine the amount of the check with your other deposit accounts in the same ownership category, and the combined total will be insured to $100,000.See full story...

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Last Updated 11/23/2001 communications@fdic.gov