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What is FDIC Insurance?
Updated over 10 months ago

FDIC deposit insurance protects bank customers in the event that an FDIC-insured depository institution fails. Bank customers don’t need to purchase deposit insurance; it is automatic for any deposit account opened at an FDIC-insured bank.

  • 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 deposits.

  • The standard insurance amount is $250,000 per depositor, per insured bank, for each ownership category.

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