FDIC Deposit Insurance Coverage

FDIC deposit insurance coverage was permanently increased from $100,000 to $250,000 on July 21, 2010.

Unlimited Deposit Insurance for Non-Interest Bearing Deposit Transaction Accounts

All funds in a “non interest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012, regardless of the amount in the account. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.

The term “non interest bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

Calculate your insurance coverage using the FDIC’s Electronic Deposit Insurance Estimator: www.fdic.gov/edie