FDIC Deposit Insurance Summary
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors placed 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 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 $250,000 per depositor, per insured bank, per account ownership category. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met. (For details on the requirements, go to: www.fdic.gov/deposit/deposits.)
The following chart shows standard insurance amounts for FDIC account ownership categories. All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount.
|FDIC Deposit Insurance Coverage Limits
by account ownership category
owned by one person
|$ 250,000 per owner|
owned by two or more persons
|$ 250,000 per co-owner|
|Certain Retirement Accounts
|$ 250,000 per owner|
|Revocable Trust Accounts||$ 250,000 per owner per unique beneficiary|
|Corporation, Partnership and Unincorporated Association Accounts||$ 250,000 per corporation, partnership or unincorporated association|
|Irrevocable Trust Accounts||$ 250,000 for the non-contingent, ascertainable interest of each beneficiary|
|Employee Benefit Plan Accounts||$ 250,000 for the non-contingent, ascertainable interest of each plan participant|
|Government Accounts||$ 250,000 per official custodian (more coverage available subject to specific conditions)|
|Access the FDIC’s comprehensive guide Your Insured Deposits here.|
To calculate your deposit insurance coverage use the FDIC’s Electronic Deposit Insurance Estimator (EDIE). For questions about FDIC coverage limits and requirements visit, call toll-free 1- 877-ASK-FDIC, or ask a Bank of Marin representative.