FDIC FAQs



FDIC Consumer News provides practical guidance on how to become a smarter, safer user of financial services. Each issue offers helpful hints, quick tips, and common-sense strategies to protect and stretch your hard-earned dollars. Click here for the FDIC's quarterly consumer newsletters.


What does FDIC mean?
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance which guarantees the safety of checking and savings deposits in member banks, currently up to $250,000 per depositor per bank.

Why is the FDIC important?
Any bank that is a member of the FDIC has to meet requirements set forth by the FDIC and other government regulatory agencies. The FDIC and these other agencies regularly examine these banks to make sure that they are performing to a higher standard than non FDIC insured banks.
Even with the higher standards, some banks still fail but if your FDIC member bank fails, the FDIC will guarantee that you do not lose any of your deposited funds. Your balance is insured to the limits set by the FDIC for your account.

What accounts does the FDIC insure?
The FDIC insures all checking, savings, money market and CD's, up to the insurance limit.
The FDIC does not insure investment accounts. That is money you invest in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities.

What are the FDIC insurance limits?
The temporary full insurance coverage of “noninterest bearing transaction accounts” that was enacted in 2010, expired on December 31, 2012. Currently the FDIC insurance limit is $250,000.00 per depositor.
If every account you have at your FDIC insured bank totals $250,000.00 or less, YOU ARE COMPLETELY INSURED.


Want to determine your FDIC deposit insurance???
Visit FDIC's Deposit Insurance Estimator (EDIE)


Are there exceptions to the limits or account types?
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $250,000* in coverage at one insured bank if you own deposit accounts in different ownership categories -  click here to find out more.


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