The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and. 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 lost a penny of FDIC-insured funds.
FDIC insurance covers all deposit accounts, including:
- Checking accounts (including Now and Super Now)
- Savings accounts
- Money market deposit accounts
- Certificates of deposit
FDIC insurance does not cover other financial products and services that banks may offer, such as safe deposit box contents, stocks, bonds, mutual funds, 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 coverage over $250,000 if they have funds in different ownership categories and all FDIC requirements are met. 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.
EDIE is an interactive application that can help you learn about FDIC deposit insurance, and to help you make sure your deposits at any one bank are fully covered by FDIC insurance.