Frequently Asked Questions
The FDIC has put together answers to questions you might have regarding various subjects.
What does the FDIC do?
The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for up to $250,000 per depositor, per insured bank, for each ownership category by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.
To find out more, go to "Who is the FDIC?"
The Deposit Insurance Information page answers the following questions:
- What is the FDIC?
- How can I check whether my bank is insured by FDIC?
- What types of accounts are eligible for FDIC insurance?
- How can I keep my deposits within the FDIC insurance limits?
- What are the basic FDIC coverage limits?
- Is it possible to have more than $250,000 at one FDIC-insured bank and still be fully covered?
- What is a single account?
- What is a joint account?
- What is meant by certain retirement accounts?
- What is a revocable trust account?
- More in-depth information on types of deposit accounts
- Glossary of Terms
How can I determine if my bank is insured and my deposits are covered?
The FDIC has two tools you can use to check on these issues. Using Bank Find, you can determine if your bank is insured, who is the primary regulator, where you can go if you have a complaint, or find out the history of your bank. You can then use our online calculator - EDIE the Estimator - to determine if your accounts are insured.
What are my rights and responsibilities under the consumer protection laws and regulations? Where can I file a complaint? Can I do this online?
Visit the link to Frequently Asked Questions for Consumer Protection for details about filing complaints; learning to manage money; privacy rights; and FDIC consumer publications.
I got an e-mail from my bank asking me to confirm online confidential information concerning my bank accounts. How can I tell if this is a legitimate request or a scam?
The FDIC has created a Consumer Alerts webpage to inform and warn consumers about a type of fraud called "phishing." The term "phishing" - as in fishing for confidential information - refers to a scam in which an individual's personal or financial information is used in a fraudulent manner.
Statistics and Analysis
How can I determine if an institution is FDIC-insured?
The FDIC's Bank Find service allows you to determine if an institution is FDIC-insured. To use this service, simply enter some basic criteria and press "Find". If more than one institution meets the criteria you enter, you will be provided with a list of institutions. If presented with a list, select and press the institution's name to see the current status of the institution. Bank Find includes all FDIC-insured institutions and branches of FDIC-insured institutions that are currently active and are FDIC-insured. Bank Find also includes any institution that was ever FDIC-insured along with its current status including current successor institution.
How can I find reports and data about individual banks?
The FDIC provides detailed information on an institution-level basis in our Institution Directory. This includes comprehensive financial and demographic data for every FDIC-insured institution, including the most recent quarterly financial statements, with performance and condition ratios. Call & Thrift Financial Reports include reports from 2001 to the present for individual banks and savings associations are available for viewing and downloading. Taxonomies for bank Call Reports are also available.
How can I find data on the US banking industry?
Statistics at a Glance provides a view of the industry's overall picture. This includes the latest quarterly data (Current Snapshot) that defines the banking industry, as well as the most recent trends (Industry Trends). The FDIC Quarterly Banking Profile identifies the latest performance trends in the industry and your state (QBP State Tables - annual and quarterly data for large and small institutions go back to 1995). Branching and deposit market share information is available through Summary of Deposits and Deposit Market Share Report. These sites present aggregates of each institution's deposits in any combined choice of states, metro areas, cities, counties or zip codes. Statistics on Depository Institutions allows you to create custom "ad hoc" Peer Groups, reports and downloads; analyze prospective mergers, classes of competitors; compare up to four columns of data. You can also download the results into standard data base formats.
Failed Bank Information
Where can I find information on failed banks and dividends the FDIC might declare?
The Failed Bank List page has a separate Web page for each bank closed since October of 2000. Each of these pages contains detailed information as well as questions and answers on the receivership and effect on bank customers. The FDIC Dividends from Failed Banks page has data on the funds distributed to those who have an outstanding claim (from uninsured funds) against the failed bank.
My bank has failed and I want to know if my accounts are insured!
The FDIC has an easy to use tool - Is My Account Fully Insured? - that you can use the first business day after the bank closing. Just select your bank and enter your account number to get the result. You'll receive additional information depending on the status of your accounts.
Sale of Real Estate and Assets from Failed Banks
I've heard the FDIC sells property and other assets from bank failures. Can you tell me more?
In the event of a bank failure, the FDIC is named receiver and is responsible for liquidating the assets of the failed institution. These assets may include real estate, loans, and furniture and fixtures. In Asset Sales, you may view the assets for sale. This section is divided among Real Estate Sales, Loan Sales, and Other Asset Sales.
Getting More Information from FDIC
Can I be notified of any FDIC updates?
Yes, the FDIC has an e-mail subscription service that allows you to be notified of any updates to several of our web products. Track the latest developments in the FDIC and the financial services industry from home or work. Announcements about dozens of useful and informative publications produced by FDIC experts will arrive in your e-mail-within minutes of publication, all absolutely free. These announcements will all be linked directly to the publication-one click will give you immediate access to the latest information. FDIC Online Subscription Service.
Contacts at FDIC
If I need help, can I call or email someone?
Yes. The FDIC's Call Center directs calls from 7 a.m. to 8 p.m. ET, Monday-Friday and (temporarily) 8:00 am - 8:00 pm ET, Saturday-Sunday. Call toll free at 1-877-ASKFDIC (1-877-275-3342) or TDD Line 1-800-925-4618.
You can also visit Contact Us to get email addresses and additional phone numbers.