Banking Professor
by on May 26, 2022

FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has lost one penny of FDIC-insured accounts.

The FDIC manages the Deposit Insurance Fund to insure the deposits, protect the depositors of insured banks, and to resolve failed banks. The FDIC also fosters communication and coordination among other countries’ deposit insurance systems. Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it’s how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. And you don’t have to purchase deposit insurance. If you open a deposit account in an FDIC-insured bank, you are automatically covered. Check out the resources on this page to learn more about deposit insurance.

Are My Deposits Insured?

Use the tools below to double check that your accounts and bank are FDIC-insured and to find out how much insurance coverage you have.

Answers to More of Your Deposit Insurance Questions

What happens if my bank fails? How do I get deposit insurance? What accounts are not covered? What if my deposits exceed the coverage limit? The FDIC provides a number of resources to answer these questions and more.


You can submit your inquiry using the FDIC Information and Support Center.
You can also call the FDIC at (877) 275-3342 or (877) ASK-FDIC.
For the hearing impaired call (800) 877-8339.


Posted in: Banking
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