Are all types of deposit accounts fully insured in a bank providing both FDIC and DIF insurance?
Yes. All types and classes of deposit accounts are covered, including savings accounts, checking and NOW accounts, certificates of deposit (CDs), money market deposit accounts, and retirement deposit accounts. The FDIC increased coverage of “self-directed retirement account” deposits from $100,000 to $250,000 per depositor. Does the higher FDIC insurance limit affect DIF insurance of these accounts? Self-directed retirement account deposits include traditional and Roth Individual Retirement Accounts (IRAs), Simplified Employee Pension Accounts (SEP IRAs), Section 457 deferred compensation plan accounts, self-directed Keogh plan accounts, and self-directed defined contribution plan accounts. All deposits, including self-directed retirement accounts and all other types of deposit accounts, continue to be fully insured in DIF member banks. DIF insurance picks up where FDIC coverage leaves off. I am a depositor at an out-of-state branch of a DIF member bank. Are my deposits covered by DIF
