Safeguarding the Nation’s Savings Deposit Insurance

This article was originally published by the FDIC on June 24, 2026.

The United States was one of the first countries to establish a national system of deposit insurance to protect the money people entrust to banks. Since its creation in 1933, the Federal Deposit Insurance Corporation (FDIC) and the deposit insurance it offers have enabled consumers to place their money at FDIC-insured banks and savings associations across the country with confidence. FDIC deposit insurance is backed by the full faith and credit of the United States Government. Throughout FDIC’s long history, no depositor has lost a penny of their insured deposits as a result of a bank’s failure. Here are some common questions, answers, and resources related to deposit insurance.

What is the FDIC deposit insurance limit and who does it protect?

The FDIC provides deposit insurance to protect your money in the event of an insured-bank failure.

FDIC insurance covers money in deposit accounts at each FDIC-insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank’s closing. Each depositor is insured at least $250,000 for their deposits at each FDIC-insured bank.

Deposit insurance applies to products such as checking accounts, savings accounts, and certificates of deposit held at insured banks. It does not apply to financial products such as stocks, bonds, crypto assets, or money market mutual funds.

How can deposit insurance coverage be calculated?

Use the FDIC’s EDIE (Electronic Deposit Insurance Estimator). It is an online tool that helps you determine whether your deposits are fully insured at each FDIC-insured bank where you hold accounts. You can enter the actual dollar amounts you have on deposit or create a hypothetical scenario to explore different coverage outcomes.

When is deposit insurance paid, and how does it work?

To protect insured depositors, the FDIC responds immediately when a bank or savings association fails. If another bank acquires the deposits of the failed bank, customers of the failed bank automatically become customers of the acquiring institution. Most of the time, the transition is seamless from the customer's point of view. If there is not an acquiring bank, the FDIC will promptly pay depositors the amount of their insured deposits. For more information, visit When a Bank Fails - Facts for Depositors, Creditors, and Borrowers.

Does deposit insurance cover fraud and other thefts?

FDIC deposit insurance does not protect against losses due to theft or fraud. However, unauthorized access to your funds may be covered by the Electronic Fund Transfer Act. It is important to review your account statements and to provide timely notice to your bank of any unauthorized or inaccurate transactions. If you see unauthorized transactions on your bank statement, contact your bank.

How can you verify that you’re dealing with a legitimate FDIC-insured bank?

Criminals sometimes create fake bank websites designed to trick people into sending money or revealing personal information. These websites may misuse the FDIC name, logo, or display “Member FDIC” as if they were FDIC-insured, which can create a false sense of trust. Because fake bank websites look convincing, it’s important to verify that any site you interact with truly belongs to an FDIC-insured institution.

Determining whether a bank is a legitimate FDIC-insured institution is easy. Visit the FDIC’s BankFind where you can quickly verify if an alleged bank is FDIC-insured and if a website, email, or telephone number aligns with that bank. When you compare the official bank name with the web address on BankFind, look for subtle misspellings or unusual web addresses. Domain names that include the bank’s name only as a sub address are often a sign of a fraudulent site.

If you think you transferred money from your real bank account to a scammer, contact your bank using verified information, such as the phone number on the back of your debit card. Your bank’s fraud department can assist you with next steps including freezing your account, blocking fraudulent transactions, and helping secure your account again. Visit IdentityTheft.gov to review additional steps you may need to take.

I have additional questions about deposit insurance, who can I contact?

The FDIC website has a page of frequently asked questions (FAQs) about deposit insurance. You may also contact the FDIC Information and Support Center to receive a response to your questions. To speak with a deposit insurance specialist, call: 1-877-ASK-FDIC (1-877-275-3342).