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🔍 Calculate your coverage. Save yourself the time and headache of crunching the numbers yourself by using the FDIC’s electronic deposit insurance estimator — otherwise known as EDIE. EDIE ...
The standard deposit insurance coverage limit, as offered at banks that are members of the Federal Deposit Insurance Corp. (FDIC), is $250,000 per depositor, per bank, per ownership category.
To find out if you're affected, use the FDIC's tool — Electronic Deposit Insurance Estimator — to figure out on a per-bank basis how much of your money, if any, exceeds the new coverage limits.
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. [8]: 15 The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the
The Federal Deposit Insurance Corporation (FDIC) is the deposit insurer for the United States. Prior to the Civil War and in the 1920s, there were various sub-national deposit insurance schemes. The United States was the second country (after Czechoslovakia ) [ 9 ] to institute national deposit insurance when it established the FDIC in the wake ...
With joint owners, each person is allowed $250,000 in FDIC coverage, for a total of $500,000 per joint account. And it doesn't matter if one person puts in more money than the other.
The service can place multiple millions in deposits per customer and make all of it qualify for FDIC insurance coverage. [3] [4] A customer can achieve a similar result, as far as FDIC insurance is concerned, by going to a traditional deposit broker or opening accounts directly at multiple banks (although depending on the amount this could require a lot more paperwork).
With up to $250,000 in coverage per depositor, per FDIC-insured bank, per ownership category, it’s important for individuals and businesses to understand the limits and guidelines of this insurance.