FDIC 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.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
EDIE The Estimator
EDIE the Estimator can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits.
The information you get from EDIE is only as accurate as the information you enter. So:
BEFORE YOU BEGIN, HAVE A LIST OF:
- All the deposit accounts you have at FDIC-insured banks
- Current balances
- Names of all account owners and beneficiaries
FOR BUSINESS ACCOUNTS, ALL OF THE ABOVE, PLUS:
- Name of the business
- Employer Identification Number (EIN)