--- title: Are Your Bank Deposits Covered by FDIC Insurance? Here's How to Know description: In the wake of the Silicon Valley Bank and Signature Bank failures, you can follow these steps to make sure that your money is safe. authors: - name: Pete Grieve role: Lead News Reporter url: https://money.com/author/pete-grieve/ bio: Pete Grieve is a personal finance reporter. In his time at Money, Pete has covered everything from car buying to credit cards to the housing market. education: University of Chicago, BA Political Science at_money_since: 2022 articles: 602 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://twitter.com/pete_grieve - https://linkedin.com/in/pete-grieve-b5aa02138 - https://www.facebook.com/petegrieve4 editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2023-03-13T19:00:17.000Z' modified: '2024-02-02T15:59:56.000Z' section: Banking tags: - News word_count: 575 canonical: https://money.com/are-bank-deposits-fdic-insured/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Are Your Bank Deposits Covered by FDIC Insurance? Here's How to Know](https://img.money.com/2023/03/News-FDIC-Insurance-Bank-Deposits.jpg?quality=85&w=1012&h=569&crop=1) After two of the largest bank failures in U.S. history — the [collapse of Silicon Valley Bank](https://money.com/svb-collapse-what-it-means/) on Friday followed by the downfall of Signature Bank on Sunday — you may be wondering if your own deposits are safe. While the federal government now says depositors at both institutions will be able to get all of their money — including holdings beyond the [Federal Deposit Insurance Corporation (FDIC) insurance limit](https://money.com/what-is-fdic-insurance-explained/) — back in a timely fashion, that’s not always the case when a bank fails. The FDIC usually steps in to find a healthy bank to take over the collapsed institution. In the event that the FDIC is unable to find a buyer for a failed bank, depositors with account balances over the maximum can be at risk of losing money. (Of note: That's [only happened once](https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/) in the past decade, when a small bank in Connecticut failed.) So you definitely don’t need to panic, but it’s also better to be safe than sorry. And it’s relatively easy to make sure that your deposits are covered by FDIC insurance, even if you have a lot of money. ## Make sure your hard-earned money is protected with a Gold IRA ### Gold IRAs help you protect your investments by providing the asset diversification and stability you need. Click on your state to get started. [Invest in Gold](https://money.com/pr/ued87e7966ca?ap_referrer=%2Fare-bank-deposits-fdic-insured%2F) ## How to find out if your money is FDIC-insured There are three quick ways to check if the FDIC insures your bank or savings association, according to the agency. You can use the FDIC's [Bank Find website](https://banks.data.fdic.gov/bankfind-suite/bankfind), call the agency at 1-877-275-3342 or look for official FDIC signage at banking locations. Nearly all U.S. banks are insured by the FDIC, but there’s no harm in confirming for peace of mind. Plus, your bank being insured by the FDIC doesn’t guarantee that all your money is backed by the agency. It’s important to understand what is and isn’t covered by the FDIC. The FDIC's deposit insurance covers checking accounts, savings accounts, certificates of deposit (CDs) [and more](https://www.fdic.gov/resources/deposit-insurance/brochures/insured-deposits/). The limit is $250,000 per depositor, per account type, per institution. But the FDIC does not cover your investments in things like stocks, bonds, mutual funds and [crypto](https://money.com/crypto-companies-protected-fdic-warning/). ## Worried about protecting your hard-earned financial assets? ### Gold IRAs help you protect your investments by providing the asset diversification and stability you need. Click below to start investing today! [Invest in Gold](https://money.com/pr/r8b58421c811?ap_referrer=%2Fare-bank-deposits-fdic-insured%2F) ## Limits of FDIC coverage As of 2019, the typical household [had](https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Transaction_Accounts;demographic:all;population:1;units:mean;range:1989,2019) a mean of $41,600 in their transaction accounts, meaning that for lots of Americans, there’s not much to worry about in terms of the FDIC’s coverage limits. If you have less than $250,000 in the bank and the funds are in an eligible account, you’re good: The FDIC likes to boast in news releases that "since 1933, no depositor has ever lost a penny of FDIC-insured funds." Matters get more complicated if you’re holding more than that amount, but there are ways to guarantee your money is covered. - You can spread your funds across multiple banks to increase your total coverage. For example, if you have three checking accounts with three different banks, you’d then have a total limit of $750,000. Just be careful that your accounts aren’t at separate branches of the same bank. - If you open a joint account with your spouse, the coverage limit doubles to $500,000, assuming the account [meets several requirements](https://www.fdic.gov/resources/deposit-insurance/brochures/insured-deposits/#JA). - Lastly, if you have money in different types of accounts with the same bank, you may qualify for coverage beyond $250,000. The FDIC defines multiple “ownership categories,” so you’ll need to read the fine print and make sure the accounts aren’t in the same category. As always, consider consulting a professional. ![](https://s3.consumersadvocate.org/prd/image/image/19305/medium_414558a1-29d4-465e-b5d1-921febc39ed2.png) American Hartford Gold can help you take control of your financial future [Invest in Gold](https://money.com/pr/u1f7b2bc903e?ap_referrer=%2Fare-bank-deposits-fdic-insured%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/are-bank-deposits-fdic-insured/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Banking", "item": "https://money.com/banking/" }, { "@type": "ListItem", "position": 3, "name": "Banks", "item": "https://money.com/banks/" }, { "@type": "ListItem", "position": 4, "name": "Are Your Bank Deposits Covered by FDIC Insurance? Here's How to Know" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/are-bank-deposits-fdic-insured/#webpage", "url": "https://money.com/are-bank-deposits-fdic-insured/", "name": "Are Your Bank Deposits Covered by FDIC Insurance? Here's How to Know", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-03-13T19:00:17.000Z", "mainEntity": { "@id": "https://money.com/are-bank-deposits-fdic-insured/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/are-bank-deposits-fdic-insured/#breadcrumb" }, "dateModified": "2024-02-02T15:59:56.000Z" }, { "@type": "NewsArticle", "headline": "Are Your Bank Deposits Covered by FDIC Insurance? Here's How to Know", "articleSection": "Banking", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/03/News-FDIC-Insurance-Bank-Deposits.jpg?quality=85", "width": 2880, "height": 1920 } ], "author": [ { "@type": "Person", "name": "Pete Grieve", "url": "https://money.com/author/pete-grieve/", "@id": "https://money.com/author/pete-grieve/#author", "description": "Pete Grieve is a personal finance reporter. In his time at Money, Pete has covered everything from car buying to credit cards to the housing market.", "image": "https://img.money.com/2023/02/peter.png?w=350&h=430&crop=1", "email": "peter.grieve@money.com", "jobTitle": "Lead News Reporter", "alumniOf": "University of Chicago, BA Political Science", "sameAs": [ "https://twitter.com/pete_grieve", "https://linkedin.com/in/pete-grieve-b5aa02138", "https://www.facebook.com/petegrieve4" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2023-03-13T19:00:17.000Z", "description": "In the wake of the Silicon Valley Bank and Signature Bank failures, you can follow these steps to make sure that your money is safe.", "abstract": "In the wake of the Silicon Valley Bank and Signature Bank failures, you can follow these steps to make sure that your money is safe.", "@id": "https://money.com/are-bank-deposits-fdic-insured/", "inLanguage": "en-US", "dateModified": "2024-02-02T15:59:56.000Z", "editor": [ { "@type": "Person", "name": "Julia Glum", "url": "https://money.com/author/julia-glum/", "@id": "https://money.com/author/julia-glum/#author", "description": "Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. ", "image": "https://img.money.com/2021/10/a_julia-glum.jpg?quality=85&w=400&h=440&crop=1", "email": "julia.glum@money.com", "jobTitle": "Managing Editor", "alumniOf": "University of Florida", "subjectOf": [ { "@type": "WebPage", "url": "https://www.newsweek.com", "name": "Newsweek" }, { "@type": "WebPage", "url": "https://www.ibtimes.com/", "name": "International Business Times" }, { "@type": "WebPage", "url": "https://www.cbsnews.com/news/home-office-tax-deduction-who-qualifies/", "name": "CBS News" }, { "@type": "WebPage", "url": "https://www.goodmorningamerica.com/living/story/coupon-queen-woman-tik-tok-share-tips-couponing-66302189", "name": "Good Morning America" }, { "@type": "WebPage", "url": "https://www.wusa9.com/video/entertainment/television/programs/great-day-washington/tips-to-being-better-with-money-in-2021/65-a5b83e05-73ba-4d60-b9a8-1d47f9ac6018", "name": "WUSA9" }, { "@type": "WebPage", "url": "https://pix11.com/news/coronavirus/rebound/making-ends-meet/millenials-taking-biggest-financial-hit-from-pandemic/", "name": "Pix 11" }, { "@type": "WebPage", "url": "https://www.nytimes.com/2019/09/10/opinion/active-shooter-drill-schools.html", "name": "The New York Times" }, { "@type": "WebPage", "url": "https://mashable.com/article/forrest-fenn-treasure-found", "name": "Mashable" }, { "@type": "WebPage", "url": "https://www.washingtonpost.com/news/post-nation/wp/2014/08/13/theres-an-app-for-that-authorities-say-man-asked-siri-for-help-dumping-body/", "name": "The Washington Post" }, { "@type": "WebPage", "url": "https://www.cnbc.com/2020/06/08/treasure-buried-by-forrest-fenn-finally-found-after-10-years.html", "name": "CNBC" }, { "@type": "WebPage", "url": "https://www.politico.com/tipsheets/florida-playbook/2017/03/gillum-for-governors-rollout-stumble-florida-woman-gets-trump-shout-out-rubios-tampa-office-problems-218973", "name": "Politico" } ], "sameAs": [ "https://x.com/superjulia", "https://www.linkedin.com/in/julia-glum" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "wordCount": 575, "keywords": [ "News" ], "about": [ { "@type": "Thing", "name": "Bank", "sameAs": [ "https://en.wikipedia.org/wiki/Bank" ] }, { "@type": "Thing", "name": "Security", "sameAs": [ "https://en.wikipedia.org/wiki/Security" ] } ] } ] } ```