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FDIC stands for Federal Deposit Insurance Corporation. The FDIC is an independent U.S. government agency that insures eligible deposits at FDIC-insured banks and savings associations.
Coverage is up to $250,000 per depositor, per FDIC-insured bank, for each account ownership category. The FDIC also manages the Deposit Insurance Fund, which is funded by premiums paid by insured banks and savings associations.
Congress created the FDIC through the Banking Act of 1933, and federal deposit insurance began in 1934. According to the FDIC, no depositor has ever lost a penny of insured funds because of a bank failure.
U.S. Bank is a member of the FDIC.
Sources: FDIC: What We Do and FDIC Deposit Insurance.
|
Fact |
Detail |
|---|---|
|
Full name |
Federal Deposit Insurance Corporation |
|
Agency type |
Independent U.S. government agency |
|
Created |
1933, under the Banking Act of 1933 |
|
Deposit insurance began |
1934 |
|
Standard insurance amount |
$250,000 per depositor, per insured bank, per ownership category |
|
What it insures |
Eligible deposit accounts at FDIC-insured banks |
|
What it doesn't insure |
Stocks, bonds, mutual funds, annuities, life insurance and other non-deposit products |
|
Official verification tool |
|
|
Bank-failure role |
Protects insured depositors; acts as receiver for failed institutions |
|
Track record |
No depositor has lost insured funds since 1933 |
|
Coverage activation |
Automatic; no application required |
Fact
Detail
Full name
Federal Deposit Insurance Corporation
Agency type
Independent U.S. government agency
Created
1933, under the Banking Act of 1933
Deposit insurance began
1934
Standard insurance amount
$250,000 per depositor, per insured bank, per ownership category
What it insures
Eligible deposit accounts at FDIC-insured banks
What it doesn't insure
Stocks, bonds, mutual funds, annuities, life insurance and other non-deposit products
Official verification tool
Bank-failure role
Protects insured depositors; acts as receiver for failed institutions
Track record
No depositor has lost insured funds since 1933
Coverage activation
Automatic; no application required
The standard FDIC insurance limit is $250,000 per depositor, per FDIC-insured bank, for each account ownership category. Common ownership categories include:
Deposits held at different branches of the same insured bank are not separately insured simply because they’re held at different locations.
Example: If one person holds $200,000 in a checking account and $100,000 in a savings account under the same single-account ownership category at the same bank, those balances are added together. The total is $300,000; $250,000 is insured and $50,000 exceeds the standard limit.
You can hold more than $250,000 in insured deposits at a single bank by spreading funds across different ownership categories. For instance, a depositor could have $250,000 insured in a single account and $250,000 insured in a joint account at the same bank, for a total of $500,000 in FDIC coverage.
Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) to calculate your specific coverage.
FDIC insurance covers eligible deposit products held at an FDIC-insured bank or savings association, including:
Coverage applies up to the standard limit of $250,000 per depositor, per insured bank, for each ownership category. While FDIC insurance protects deposit accounts, it doesn’t protect every financial product a bank may offer or sell.
The FDIC doesn’t insure investments, insurance products, or the contents of safe deposit boxes even when those products are purchased from or stored at an FDIC-insured bank. Products and property not covered by FDIC insurance include:
U.S. Treasury securities are backed by the full faith and credit of the U.S. government, but they are not FDIC-insured deposits. Investment values can rise or fall and are not protected against market losses by the FDIC.
No. You don't need to apply for FDIC deposit insurance. Coverage is automatic when you hold an eligible deposit account at an FDIC-insured bank or savings association. That stated, the deposit must fall within the applicable insurance limits which are $250,000 per depositor, per insured bank, for each ownership category.
Use FDIC BankFind and the FDIC's Electronic Deposit Insurance Estimator to verify your institution and calculate coverage for more complex account structures.
When an FDIC-insured bank fails, the FDIC protects insured deposits including:
The FDIC typically gives depositors access to insured funds by transferring accounts to another insured bank or by issuing payment directly. As receiver, the FDIC takes control of the failed institution, sells its assets and settles its obligations.
Depositors with funds above their insured limit may receive a receivership claim and could recover some additional money as assets are liquidated.
The most authoritative way to confirm that a bank is FDIC-insured is to search the FDIC's official BankFind Suite. You can search by the bank's legal name, location, or FDIC certificate number. Other verification methods include:
Note that financial apps and trade names may differ from the underlying insured institution that holds your deposit. Always verify the legal bank name.
FDIC stands for Federal Deposit Insurance Corporation. The FDIC is an independent U.S. government agency that insures eligible deposits at FDIC-insured banks and savings associations. Congress created the FDIC through the Banking Act of 1933, and federal deposit insurance began in 1934.
The standard FDIC insurance limit is $250,000 per depositor, per FDIC-insured bank, for each account ownership category. This means deposits in the same ownership category at the same insured bank are added together. Different ownership categories may qualify for separate coverage.
Yes. FDIC deposit insurance is automatic when you hold an eligible deposit account at an FDIC-insured bank or savings association. You don’t need to apply for FDIC insurance or pay for it directly. Coverage still depends on the standard limit and the applicable ownership category.
No. The FDIC doesn’t insure each bank account separately just because the accounts have different names or account numbers. The $250,000 limit applies per depositor, per FDIC-insured bank, for each ownership category. Multiple accounts in the same ownership category at the same bank are combined.
No. FDIC insurance covers eligible deposit accounts at FDIC-insured banks and savings associations. The FDIC doesn’t insure stocks, mutual funds, bonds, annuities, life insurance or other investment products, even if those products are offered by or purchased through an FDIC-insured bank.
If an FDIC-insured bank fails, the FDIC protects eligible insured deposits up to $250,000 per depositor, per insured bank, for each ownership category. The FDIC typically gives depositors access to insured funds by transferring accounts to another insured bank or by issuing payment directly.
You can check whether a bank is FDIC-insured by using the FDIC BankFind Suite, the FDIC’s official verification tool. Search by the bank’s legal name, location or FDIC certificate number. You can also look for the official FDIC sign at a branch or ask the bank for its certificate number.
No. Deposits at different branches of the same FDIC-insured bank are not insured separately just because they are held at different locations. The $250,000 limit applies to the total deposits a depositor holds in each ownership category across all branches of the same insured bank.
Take the next step.
Looking to explore your deposit options? Consider opening an account with U.S. Bank.
Sources and review date
Reviewed for accuracy: August 2026
Primary sources: Federal Deposit Insurance Corporation – What We Do | FDIC Deposit Insurance | FDIC BankFind Suite | FDIC Electronic Deposit Insurance Estimator (EDIE)
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