Is my money FDIC insured?
A guide to what FDIC insurance is and how it works
What is the FDIC?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency backed by the U.S. government to build stability and confidence in financial systems.
What does the FDIC do?
The FDIC protects and reimburses up to $250,000 per depositor, per institution and per ownership category if an insured bank fails.
What does the FDIC do?
Since the FDIC was founded in 1933 no depositor has lost a single cent of their insured deposit.
What does FDIC insurance cover?
What’s not covered?
Investment products:
Are Not |
Are Not |
May Lose Value |
Bank of America and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
What about joint accounts?
Each owner is insured up to $250,000. So a joint account with two owners is insured up to $500,000.
Can I get more coverage?
You can get more than $250,000 in coverage at the same financial institution as long as deposits are in different ownership categories, such as:
Investment products:
Are Not |
Are Not |
May Lose Value |
Bank of America and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Do I need to do anything?
As long as your deposits are with an FDIC-insured bank, you don’t have to do anything to be covered.
Find out whether your accounts are fully insured with the Electronic Deposit Insurance Estimator (EDIE) calculator >
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This material is for informational use only and is not intended for financial or investment advice. Bank of America Corporation and/or its affiliates assume no liability for one’s reliance on the material provided. This material is not updated regularly and may not be current. Consult a financial professional when making financial decisions. ©2025 Bank of America Corporation