FDIC Insurance

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    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.

    Basic FDIC Deposit Insurance Coverage Limits1
    Single Accounts
    owned by one person
    $250,000 per owner
    Joint Accounts
    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

    1 Note: All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010 through December 31, 2012.  This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.

    The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest.  It also includes Interest on Lawyers Trust Accounts (“IOLTAs”).  It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

    For more information, see the FDIC's comprehensive guide, Your Insured Deposits, at http://www.fdic.gov/deposit/deposits/insured/index.html


    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

    To calculate your insurance coverage
    Use the FDIC’s online Electronic Deposit Insurance Estimator (EDIE) 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

    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