An official website of the United States government
The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more.
Press Release / February 15, 2023
Consumer News / February 3, 2023
Podcasts / January 24, 2023
Press Release / January 5, 2023
The FDIC provides a wealth of resources for consumers, bankers, analysts, and other stakeholders. Browse our collection of financial education materials, data tools, documentation of laws and regulations, information on important initiatives, and more.
Press Release / February 15, 2023
Consumer News / February 3, 2023
Podcasts / January 24, 2023
Press Release / January 5, 2023
The FDIC is proud to be a pre-eminent source of U.S. banking industry research, including quarterly banking profiles, working papers, and state banking performance data. Browse our extensive research tools and reports.
Event / December 1, 2022
Announcement / October 25, 2022
Event / September 8, 2022
Event / May 24, 2022
The FDIC publishes regular updates on news and activities. Keep up with FDIC announcements, read speeches and testimony on the latest banking issues, learn about policy changes for banks, and get the details on upcoming conferences and events.
Press Release / February 15, 2023
Consumer News / February 3, 2023
Podcasts / January 24, 2023
Press Release / January 5, 2023
Advanced Search
Advanced Search
FDIC Consumer News
August 2022
Deposit insurance from the Federal Deposit Insurance Corporation (FDIC) enables consumers to place their money with confidence at FDIC-insured banks and savings associations (insured banks) across the country. FDIC deposit insurance is backed by the full faith and credit of the United States Government.
Here are some key things to know about deposit insurance:
1. What is covered under deposit insurance and how much?
The FDIC protects the money depositors place in insured banks in the unlikely event of an insured-bank failure. Each depositor is insured to at least $250,000 per insured bank.
FDIC deposit insurance covers all types of deposits held at an insured bank. This includes deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, money market deposit account (MMDA), certificate of deposit (CD) or other time deposit account, as well as official items issued by an insured bank such as a cashier’s check or money order. FDIC insurance covers depositors’ accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank’s failure, up to the insurance limit.
FDIC deposit insurance covers various types of banking products, including:
2. What is NOT covered?
The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments are purchased at an insured bank.
You should understand the terms and conditions of financial products offered by non-bank companies and how your funds may, or may not, be protected. It is important to be aware that non-bank companies are never FDIC insured. Even if they partner with insured banks, money you send to a non-bank company is not FDIC insured unless, and until, the company deposits it in an insured bank.
FDIC insurance protects you only in the unlikely event the insured bank fails, and does not protect you against losses due to the non-bank company’s bankruptcy or failure to meet its obligations to its customers. A non-bank’s company failure or bankruptcy may result in delays in accessing your money, even when your money was deposited in a bank for your benefit.
3. How to calculate your coverage? EDIE!
FDIC Electronic Deposit Insurance Estimator (EDIE) is an online tool that can be used to determine whether your accounts are fully insured at each insured bank where your deposits are held. EDIE allows you to input dollar amounts you have on deposit in an insured bank or use a hypothetical scenario to determine your coverage.
FDIC does NOT insure non-deposit investment products, such as stocks, bonds, government and municipal securities, mutual funds, annuities (fixed and variable), life insurance policies (whole and variable), savings bonds, crypto assets, etc. EDIE is NOT an estimator for investments (even if the investments were purchased from an insured bank).
4. When and how is deposit insurance paid?
Deposit insurance is paid when an insured bank fails. When this happens, the bank’s chartering authority typically steps in to close the bank and brings in the FDIC as the deposit insurer. FDIC staff is on location the day it fails, working to identify those who have insured money in the bank. In many instances, another bank agrees to buy the failing bank and the transition is smooth for depositors. If there is no immediate buyer, the FDIC maintains access for depositors to their insured deposits.
For more information, go to: When a Bank Fails – Facts for Depositors, Creditors, and Borrowers.
5. I have additional questions about deposit insurance, who can I contact?
The FDIC website has a page of frequently asked questions (FAQs) about deposit insurance. You can also write and receive a response from the FDIC by visiting the FDIC Information and Support Center. If you wish to speak to a deposit insurance specialist, you may call: 1-877-ASK-FDIC (1-877-275-3342).
FDIC is an independent agency of the United States Government that protects you against the loss of your insured deposits if an insured bank fails. FDIC insurance is backed by the full faith and credit of the United States Government. Since the start of FDIC insurance in 1934, no depositor has lost a single cent of insured deposit.
Fact Sheet: What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies
Understanding Deposit Insurance
FDIC BankFind
Are My Deposits Insured by the FDIC?
Deposit Insurance Videos
La Calculadora EDIE
FDIC Consumer News: Is the Money on My Prepaid Card FDIC-Insured?
FDIC Consumer News: Avoiding Scams and Scammers
FDIC Consumer News: How Does the FDIC Protect Consumers?
For more consumer resources, visit FDIC.gov, or go to the FDIC Knowledge Center. You can also call the FDIC toll-free at 1-877-ASK-FDIC (1-877-275-3342). Please send your story ideas or comments to [email protected].
PDF Help
Contact FDIC Consumer News
To subscribe to FDIC Consumer News and other FDIC publications, please enter your email address:
You can also subscribe to FDIC Consumer News by texting your email address to 468311.
