Under federal law, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be eligible for insurance by the Federal Deposit Insurance Corporation up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information, visit the FDIC website. *
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. You may qualify for more than $250,000 in coverage at one insured bank if you own deposit accounts in different categories.
Individual accounts are accounts owned by one person and titled in that person's name only. All individual accounts at the same insured bank are added together and the total is insured up to $250,000. For example, if you have an interest-bearing checking account and a CD at the same insured bank, and both accounts are in your name only, the two accounts are added together and the total is insured up to $250,000.
Individual accounts include:
Product/Type
Amount Insured
Uninsured Amount
John Smith
Single Account 1
John Smith
Single Account 2
John & Mary Smith
Joint Account
$260,000 (John)
$260,000 (Mary)
$520,000 (Total)
Mary Smith
Retirement Account
Subtotal: Personal
John Smith
Single Account 3
Business Checking
Noninterest-bearing
Subtotal: Small Business
For more information about FDIC coverage, visit the FDIC website at www.FDIC.gov or access the Electronic Deposit Insurance Estimator (EDIE the Estimator), an online tool that provides customized information about your insured accounts. The estimator is located at http://myfdicinsurance.gov * . You may also call toll-free 1-877-275-3342 for assistance.
In addition to individual insured accounts, each person is entitled to a maximum of $250,000 coverage for interest-bearing deposits in all of his/her joint accounts. If a couple has a joint interest-bearing checking account and a joint savings account at the same insured bank, each co-owner's shares of the two accounts are added together and insured up to $250,000, providing up to $500,000 in coverage for the couple's joint accounts.
Product/Type
Amount Insured
Uninsured Amount
John Smith
Single Account 1
John Smith
Single Account 2
John & Mary Smith
Joint Account
$260,000 (John)
$260,000 (Mary)
$520,000 (Total)
Mary Smith
Retirement Account
Subtotal: Personal
John Smith
Single Account 3
Business Checking
Noninterest-bearing
Subtotal: Small Business
For more information about FDIC coverage, visit the FDIC website at www.FDIC.gov or access the Electronic Deposit Insurance Estimator (EDIE the Estimator), an online tool that provides customized information about your insured accounts. The estimator is located at http://myfdicinsurance.gov * . You may also call toll-free 1-877-275-3342 for assistance.
Certain retirement accounts are separately insured from any other deposits a Customer may have at the same institution. These are deposit accounts owned by one person and titled in the name of that person's retirement plan. Only the following types of retirement plans are insured in this ownership category:
All deposits that an individual has in any of the types of retirement plans listed above at the same insured bank are added together and the total is insured up to $250,000. For example, if an individual has an IRA and a self-directed Keogh account at the same bank, the deposits in both accounts would be added together and insured up to $250,000.
Please note: Naming beneficiaries on a retirement account does not increase deposit insurance coverage.
Product/Type
Amount Insured
Uninsured Amount
John Smith
Single Account 1
John Smith
Single Account 2
John & Mary Smith
Joint Account
$260,000 (John)
$260,000 (Mary)
$520,000 (Total)
Mary Smith
Retirement Account
Subtotal: Personal
John Smith
Single Account 3
Business Checking
Noninterest-bearing
Subtotal: Small Business
For more information about FDIC coverage, visit the FDIC website at www.FDIC.gov or access the Electronic Deposit Insurance Estimator (EDIE the Estimator), an online tool that provides customized information about your insured accounts. The estimator is located at http://myfdicinsurance.gov * . You may also call toll-free 1-877-275-3342 for assistance.
The bank offers In Trust For (ITF) accounts. This type of account signifies the intention that the funds will belong to a named beneficiary on the death of the owner (grantor or depositor) of the account.
Funds deposited into revocable trust accounts, whose beneficiaries are a natural person, or a charity, or other non-profit organization, are separately insured to $250,000 per beneficiary (in addition to the insurance on valid individual joint and noninterest-bearing transaction accounts). They provide that, at the death of the owner, funds will pass to a named beneficiary.
Determining coverage for living trust accounts (a type of Revocable Trust Account) can be complicated and requires more detailed information about the FDIC's insurance rules than can be provided here. If you have a living trust account, contact the FDIC at 877-275-3342 for more information.