FDIC Coverage for Your Bank Accounts

FDIC coverage for your bank accounts has been in the news lately. The rules can be deceptively complicated — but there is one simple, over-arching rule. If you have less than $250,000 (altogether) in deposits in a given bank, you are covered by FDIC insurance.

Some banks operate brokerage entities, too. Those accounts, and other non-depository accounts, are not covered at all — and therefore don’t count toward the $250,000 limit. And the bank rules don’t apply (at least not directly) to credit union accounts. But for most people, the FDIC coverage is plenty, and both automatic and easy to understand.