All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts ("IOLTAs").
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. |
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FDIC Deposit Insurance Coverage Limits by account ownership category Single Accounts owned by one person $250,000 per owner
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Joint Accounts owned by two or more persons
$250,000 per co-owner |
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Irrevocable Trust Accounts
$250,000 for the non-contingent, ascertainable interest of each beneficiary |
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Government Accounts
$250,000 per official custodian (more coverage available subject to specific conditions) |
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Revocable Trust Accounts $250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific conditions and requirements)
Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership or unincorporated association |
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