Top five things to know
Deposit insurance from the Federal Deposit Insurance Corporation (多宝游戏下载) enables consumers to place their money with confidence at 多宝游戏下载-insured banks and savings associations (insured banks) across the country. 多宝游戏下载 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 多宝游戏下载 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.
多宝游戏下载 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. 多宝游戏下载 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.
多宝游戏下载 deposit insurance covers various types of banking products, including:
| 多宝游戏下载 deposit insurance covers: |
|---|
| Checking accounts |
| Negotiable Order of Withdrawal (NOW) accounts |
| Savings accounts |
| Money Market Deposit Accounts (MMDAs) |
| Certificates of Deposit (CDs) |
| Cashier鈥檚 checks |
| Money orders |
| Other official items issued by an insured bank |
2. What is NOT covered?
The 多宝游戏下载 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.
| 多宝游戏下载 deposit insurance does not cover: |
|---|
| Stock investments |
| Bond investments |
| Mutual funds |
| Life insurance policies |
| Annuities |
| Municipal securities |
| Safe deposit boxes or their contents |
| U.S. Treasury bills, bonds, or notes |
| Crypto assets |
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 多宝游戏下载 insured. Even if they partner with insured banks, money you send to a non-bank company is not 多宝游戏下载 insured unless, and until, the company deposits it in an insured bank.
多宝游戏下载 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鈥檚 bankruptcy or failure to meet its obligations to its customers. A non-bank鈥檚 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!
(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.
多宝游戏下载 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鈥檚 chartering authority typically steps in to close the bank and brings in the 多宝游戏下载 as the deposit insurer. 多宝游戏下载 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 多宝游戏下载 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 多宝游戏下载 website has a page of frequently asked questions (FAQs) about deposit insurance. You can also write and receive a response from the 多宝游戏下载 by visiting the . If you wish to speak to a deposit insurance specialist, you may call: 1-877-ASK-多宝游戏下载 (1-877-275-3342).
多宝游戏下载 is an independent agency of the United States Government that protects you against the loss of your insured deposits if an insured bank fails. 多宝游戏下载 insurance is backed by the full faith and credit of the United States Government. Since the start of 多宝游戏下载 insurance in 1934, no depositor has lost a single cent of insured deposit.
Additional resources
Fact Sheet: What the Public Needs to Know About 多宝游戏下载 Deposit Insurance and Crypto Companies
Understanding Deposit Insurance
Are My Deposits Insured by the 多宝游戏下载?
多宝游戏下载 Consumer News: Is the Money on My Prepaid Card 多宝游戏下载-Insured?
多宝游戏下载 Consumer News: Avoiding Scams and Scammers
多宝游戏下载 Consumer News: How Does the 多宝游戏下载 Protect Consumers?
For more consumer resources, visit 多宝游戏下载.gov, or go to the . You can also call the 多宝游戏下载 toll-free at 1-877-ASK-多宝游戏下载 (1-877-275-3342). Please send your story ideas or comments to ConsumerNews@fdic.gov.