FDIC
Is It Insured By The FDIC?
| PRODUCT | FDIC INSURED? |
|---|---|
| CHECKING | YES |
| A deposit account whose fund is available to the depositor through a check/draft. | |
| NEGOTIABLE ORDER OF WlTHDRAWAL | YES |
| Similar to a checking account they pay interest, but may place limitations; e.g. the number of checks/month. | |
| SAVINGS | YES |
| Deposit made into an interest bearing account with the intent to leave the money in the account for an indefinite period of time. | |
| CERTIFICATE OF DEPOSIT | YES |
| A deposit made into an interest bearing account for a definite period of time; e.g. one month, one year, etc. | |
| INDIVIDUAL RETIREMENT DEPOSIT ACCOUNTS | YES |
| These are usually savings accounts or certificates of deposit (see above). | |
| CASHIER'S CHECKS, TRAVELERS CHECKS, MONEY ORDERS, ETC. | YES |
| Checks/drafts of a financial institution that are purchased by the customer. | |
| CONTENTS OF SAFE DEPOSIT BOXES | NO |
| U.S. TREASURY SECURITIES | NO |
| Borrowings of the U.S. Treasury | |
| STOCKS, BONDS, OR OTHER INVESTMENTS ISSUED BY A FINANCIAL INSTITUTION | NO |
| Investment in the ownership (stocks) or borrowings (bonds, commercial paper) of the financial institution that issues them. | |
| STOCKS, BONDS, OR OTHER INVESTMENTS PURCHASED THROUGH A FINANCIAL INSTITUTION | NO |
| Investment in the ownership (stocks) or borrowings (bonds,commercial paper) of the business that issues them. |
LIMITATIONS:
- $250,000 per depositor, covering both principal and interest. Ownership of the accounts (for example, single or joint) determines whether there is more coverage.
- Insured when issued in exchange for money or a charge against a deposit account.
- Individual Retirement Accounts which are not deposit accounts are not insured by the FDIC.
For More Information
For detailed information about Federal Deposit Insurance, call 1-800-934-3342 and ask for the FDIC’s free brochures, “Your Insured Deposits” and “Insured or Not Insured: A Guide to What Is and Is Not Protected by FDIC Insurance”.