The standard FDIC insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000.00 per depositor for all account categories except IRA’s and other certain retirement accounts, which will remain at $250,000.00 per depositor. Please check with a bank representative or click below to calculate your deposit insurance.
NOTICE OF CHANGE IN TEMPORARY
FDIC INSURANCE COVERAGE
FOR TRANSACTION ACCOUNTS
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 $250,000.00 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 depositary institution pays no interest. IOLTA accounts are included in this group. It does not include other accounts, such as traditional checking or demand deposits that earn interest such as NOW accounts or money market deposit accounts.
Click here to go to the FDIC website to calculate your deposit insurance.