Does the FDIC insure a deposit account?

The FDIC only insures your money if it is in a deposit account at an FDIC-insured bank. Banks offer some financial products and services that are not deposits, and the FDIC does not insure them. These include: How Do You Get An Insured Account? Large and small banks across the country offer deposit accounts backed by FDIC deposit insurance.

Are your deposits insured?

With the recent turmoil in the banking industry, many people are wondering if their deposits are insured (typically, yes), and for how much. When you open and deposit money in a bank account, the Federal Deposit Insurance Corporation (FDIC) will insure your funds up to $250,000 in the rare event that your bank fails.

How much does FDIC insurance cover a deposit?

These deposits are insured for up to $250,000 per depositor, per FDIC-insured bank, per account ownership category. The FDIC insurance limit has been the same for more than a decade. The FDIC doesn’t insure investment products, such as stocks, bonds, mutual funds, annuities and life insurance policies.