Federal Deposit Insurance Corporation (FDIC)

Important information about deposit insurance

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects depositors of an insured bank located in the United States against the loss of their deposits if an insured bank fails. The standard deposit insurance amount is up to $250,000 per depositor, per insured bank, for each account ownership category. The FDIC covers depositors’ accounts at each insured bank, dollar for dollar, including principal and any accrued interest through the date of the insured bank’s closing, up to the insurance limit. FDIC insurance is backed by the full faith and credit of the United States government. 

The FDIC provides separate coverage for deposits held in different categories of legal ownership. Depositors may qualify for more than $250,000 in insurance coverage if their funds are deposited in different ownership categories and all FDIC requirements for each ownership category are met. All deposits that an account holder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount.

Please visit www.fdic.gov/deposit/deposits for further information.

Understanding Deposit Insurance
The FDIC covers:

  • Checking accounts
  • Negotiable Order of Withdrawal (NOW) accounts
  • Savings accounts
  • Money market deposit accounts (MMDAs)
  • Time deposits such as certificates of deposit (CDs)
  • Cashier's checks, money orders, and other official items issued by a bank

The FDIC does NOT cover (even if purchased at an insured bank):

  • Stock investments
  • Bond investments
  • Mutual funds
  • Life insurance policies
  • Annuities
  • Municipal securities
  • Safe deposit boxes or their contents
  • U.S. Treasury bills, bonds or notes

Depositors do not need to apply for FDIC insurance. Coverage is automatic whenever a deposit account is opened at an FDIC-insured bank or financial institution and all FDIC requirements are met. 

The availability and extent of deposit insurance coverage is determined by the FDIC and cannot be altered by representations made by insured banks or others. 

Calculate insurance coverage using EDIE
The Electronic Deposit Insurance Estimator – known as EDIE – is an online tool that is simple and easy to use. To calculate your deposit insurance coverage, use EDIE at: www.fdic.gov/edie 

To contact the FDIC:
Call toll-free: 1-877-ASK-FDIC (1-877-275-3342)

Hearing impaired line: 1-800-925-4618

Read more about FDIC insurance online at: www.fdic.gov/deposit/deposits

The information and content provided on this web page is for informational purposes only. This information is presented in a non-technical way and as a convenience to you. SVB makes no warranties or representations as to its accuracy and bears no liability for your use of this information. The information made available to you is not intended, and should not be construed as legal, tax, or investment advice, or as a legal opinion. You should contact your legal, tax and/or financial advisors to help answer questions about your specific situation or needs prior to taking any action based upon this information. In the event of a discrepancy or dispute between this information and the information at www.fdic.gov, the information at www.fdic.gov will control. The specific legal requirements pertaining to the availability, nature and extent of deposit insurance coverage can be found by consulting the Federal Deposit Insurance Act (12 USC 1811 et seq.) and the FDIC's regulations relating to deposit insurance coverage (12 CFR Part 330). The FDIC recommends that to determine your deposit insurance coverage or to ask any specific deposit insurance questions, to call 1-877-ASK-FDIC (1-877-275-3342).