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What is FDIC deposit insurance?

April 26, 2017deposit FDIC Insurance

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What is FDIC deposit insurance?

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Deposits held in federally insured banks are insured up to at least $100,000 for each depositor by the Federal Deposit Insurance Corporation (FDIC). Coverage is higher – up to $250,000 per depositor – for funds held in Individual Retirement Accounts (IRAs) and certain other retirement accounts (defined by FDIC regulation). Deposits generally include funds held in checking, savings, money market and certificate of deposit accounts. The FDIC Web site has a section devoted to questions regarding deposit insurance.