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Banking
Banking Education
How Much Are My
Funds Insured For
How Much Are My
Funds Insured For
The basic FDIC insurance limit is
$100,000 per institution. It is possible, however, to have over
$100,000 in a single financial institution and still be fully
insured. If the sum total of all of your accounts at a single
institution does not exceed $100,000, your funds would be fully
insured in the event of the failure of your financial institution.
If the sum total of all of your accounts at a single financial
institution exceeds $100,000, you may be able to use the Electronic
Deposit Insurance Estimator (EDIE) to see if all of your funds are
insured.
- the FDIC calculates deposit insurance based on the type of
ownership ("right and capacity") in which funds are owned. All
deposits (CDs, Checking, Savings) held in the same type of
ownership are added together and insured to $100,000. Funds held
in different types of ownership (Individual, Joint, Trust,
Retirement) are separately insured
- any time there is a change in relationships within a family,
such as a birth, death, or divorce, the deposit insurance coverage
of your accounts may be affected. In addition, should your
financial institution merge with another institution that you also
do business with, the insurance on your accounts may be affected.
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