Are balances in non-interest bearing transaction accounts included in the overall $250,000 FDIC coverage amount?
No. Deposits covered by the Transaction Account Guarantee Program are separate from deposits covered under the basic FDIC insurance of up to $250,000 per depositor. For example, if you had $100,000 in a non-interest bearing checking account and $200,000 in interest bearing accounts, the entire $300,000 would be covered.
Related Questions
- Will public funds held in non-interest bearing transaction deposit accounts that are collateralized with pledged securities be included in the amount assessed for the guaranteed additional insurance?
- What is the difference between basic FDIC deposit insurance coverage and the unlimited coverage available in the Transaction Account Guarantee Program?
- Is there separate FDIC coverage for non-interest bearing checking accounts?
