What is FDIC Insurance?

Deposit insurance is one of the biggest pros of having an account at an FDIC-insured bank. An FDIC-insured bank protects your money in the event of an unlikely bank failure.
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What is FDIC Insurance?

FDIC insurance is a significant benefit of putting your money in a bank that is FDIC insured. “The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.” Simply banking with an FDIC-insured bank takes away having to purchase deposit insurance, as you are automatically covered. FDIC insurance maximizes your protection. We also provide additional multi-million-dollar FDIC insurance coverage beyond applicable limits. Learn more about our CDARS and ICS program by contacting a Personal Banker or visiting https://www.intrafi.com/solutions/depositors/
What Does FDIC Insurance Typically Cover?  
Just because a banking institution offers FDIC insurance, that does not necessarily mean all accounts, products, and investments are covered.  
FDIC insurance often covers: 
  • Checking Accounts 
  • Savings Accounts 
  • Money Market Accounts 
  • Certificates of Deposits 
  • Cashier’s Checks or Money Orders 
  • Negotiable Order of Withdrawal Accounts 
The FDIC does not cover: 
  • Stock Investments 
  • Bond Investments 
  • Mutual Funds 
  • Annuities 
  • Safe Deposit Boxes 
  • Life Insurance Policies 
  • U.S. Treasury Bills, Bonds, or Notes 
Remember if your bank is an FDIC-insured institution coverage is automatic to you, there is no need to apply for FDIC insurance. 

Are You Covered?

To find out if your deposits are insured utilize the tools below to check if your bank is insured, which of your accounts are covered, and how much of your deposits are insured. 
Is Your Bank Institution Insured? – Not all banks are FDIC insured. Be sure to check that your is! 
Are Your Deposit Accounts Insured? – Not all accounts, products, and investments are covered by FDIC insurance.  
How Much of Your Deposits Are Insured?  Use EDIE or Electronic Deposit Insurance Estimator to determine how much are insured.  
If you are looking to learn more about FDIC insurance, we would be happy to help. If you are interested in FDIC deposit insurance coverage, simply make sure you are placing your funds in a deposit product at the bank. If you need more coverage than the applicable limits, call a Personal Banker for information on multi-million dollar FDIC insurance coverage through CDARS or ICS.

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