How does the guarantee on non-interest-bearing transaction deposit accounts affect a customers insurance coverage for other types of accounts?
The insurance coverage on non-interest-bearing transaction deposit accounts is over and above the $250,000 in coverage provided to a customer already. For example, if a customer has $500,000 in a non-interest-bearing transaction deposit account and $250,000 in a certificate of deposit, the FDIC would fully insure the entire $750,000.
Related Questions
- What is the difference between basic FDIC deposit insurance coverage and the unlimited coverage available in the Transaction Account Guarantee Program?
- How does the guarantee on noninterest-bearing transaction deposit accounts affect a customers insurance coverage for other types of accounts?
- Can customer deposit to different accounts in a single transaction?
