FDIC Deposit Insurance FDIC Insurance Coverage and Ownership Categories Your source for FDIC coverage limits, and other questions about deposit insurance TheFederal Deposit Insurance Corporation, commonly known as the FDIC, was created as part of the 1933 Banking Act. This independent federal agency ...
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 categories. Accounts ...
Currently, the standard insurance amount is $250,000 per depositor, per account category. This means that each depositor is insured up to $250,000 for their individual deposits, and this coverage extends across different account categories, such as single accounts, joint accounts, certain ...
“FDIC insurance benefits U.S. banking customers (citizens and foreigners) by providing peace of mind and confidence that their deposits are protected up to $250,000 per depositor, [per account category], per insured bank,” Koontz says. “In the event of a bank failure, the FDIC steps in...
So, if a couple had $500,000 in a joint savings account, their money would be insured by the FDIC. A savings account with a single owner with $500,000 would only be half-insured. The table below shows how different account ownership categories can affect your deposit insurance coverage....
Employee Benefit Plan Accounts$ 250,000 for the non-contingent interest of each plan participant Government Accounts$ 250,000 per official custodian (more coverage available subject to specific conditions) To calculate your deposit insurance coverage, use the FDIC’s Electronic Deposit Insurance Estimat...
The FDIC Standard Maximum Deposit Insurance Amount for deposits is $250,000 per depositor, per insured financial institution, for each account ownership category. Coverage Over Basic Insurance The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. It...
The FDIC provides separate insurance coverage for deposits held in different categories of legal ownership. The FDIC refers to these different categories as "ownership categories." This means that depositors may qualify for more than $250,000 in insurance coverage if they have funds deposited in dif...
Joint accountsare insured separately from accounts in other ownership categories, up to a total of $250,000 per owner. This means you and your spouse can get another $500,000 of FDIC insurance coverage by opening a joint account in addition to your single accounts. And adding another joint ...
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...