Search the bank’s legal name in the FDIC’s BankFind Suite, then compare the result with the institution named in your account agreement or statements. For an online financial app, verify the partner bank that actually holds the deposit—not just the app’s brand. An insured-bank listing confirms the institution’s FDIC status; it does not mean every product, balance, or account arrangement is insured.
How do I check if a bank is FDIC-insured?
- Open the FDIC’s BankFind Suite. Search for the institution by name. If several results appear, use the available location and other institution details to distinguish them.
- Identify the bank holding your account. Compare the legal institution name, website, and location in the BankFind result with the bank named in your account agreement, statements, or the institution’s official website. A brand name may differ from the legal bank name.
- For a financial app, check its partner bank. Look in the account terms or disclosures for the bank that holds the deposits, then search for that bank in BankFind. An FDIC-related claim or badge displayed by an app does not by itself establish that the app is an insured bank or that your particular arrangement qualifies for coverage.
- Ask if anything does not match. The FDIC also recommends asking a bank representative or looking for the FDIC sign at a bank. For help, call the FDIC at 1-877-275-3342 or use its Information and Support Center.
BankFind provides institution information, including branches, official website, operating status, and regulator. Its result tells you the status represented by the FDIC record; it does not verify that a particular account is titled correctly, that your total is within coverage limits, or that a fintech arrangement meets pass-through requirements. Review the account terms and contact the bank or FDIC if you need to resolve those questions.
What does FDIC insurance actually cover?
FDIC insurance protects qualifying deposits at an FDIC-insured bank if that bank fails. The FDIC’s standard limit is $250,000 per depositor, per insured bank, per ownership category, as described in its Deposit Insurance FAQs and deposit-insurance guidance. Coverage is automatic for qualifying deposit accounts at an insured bank; you do not apply for or buy it separately.
Examples of covered deposits
- Checking and savings accounts
- Money market deposit accounts
- Time deposits, including certificates of deposit (CDs)
- Official items issued by a bank, such as cashier’s checks and money orders
Some prepaid-card arrangements qualify only when applicable FDIC requirements are met. A card’s label alone does not establish coverage; see the FDIC’s explanation of which financial products are insured.
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What FDIC insurance does not cover
FDIC insurance applies to deposits, not every financial product a bank sells or makes available. Excluded products and property include stocks, bonds, mutual funds, annuities, life-insurance policies, municipal securities, crypto assets, and the contents of safe-deposit boxes. U.S. Treasury bills, notes, and bonds are also not FDIC-insured deposits; they have separate U.S. government backing. The FDIC lists these distinctions in Understanding Deposit Insurance and Your Insured Deposits.
For a covered deposit, FDIC insurance includes principal and accrued interest through the date the insured bank fails, subject to the applicable limit.
How does the $250,000 limit work?
The limit is not automatically available separately for every account. The FDIC combines a depositor’s deposits in the same ownership category at the same insured bank. Account type alone does not create a new category: for example, checking, savings, and CDs held in the same category at one bank are aggregated. Accounts at different branches of the same bank are not separately insured, while deposits at separately chartered insured banks are treated separately.
Ownership categories include single, joint, certain retirement, trust, employee benefit plan, business, and government accounts. A depositor may have coverage across more than one category at the same bank, but each category has legal requirements. Trust and business arrangements can depend on specific facts, so do not assume a category applies—or calculate its coverage—based on the account label alone. The FDIC explains the rules in its General Principles of Insurance Coverage.
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsHow can I estimate coverage for my accounts?
Use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) to enter account balances and ownership details and estimate coverage. The estimate depends on accurate inputs and whether the accounts meet the relevant category requirements. If you have complex trust, business, or app-based deposit arrangements, ask the bank or FDIC to clarify how the accounts are treated rather than relying on an estimate alone.
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