How does FDIC insurance work?
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.
To evaluate how much FDIC Deposit Insurance Coverage you are eligible for, try the FDIC’s Electronic Deposit Insurance Estimator. (EDIE)
Visit the FDIC website for more details on FDIC Deposit Insurance Coverage.
