1. What is FDIC Insurance Coverage?

The FDIC (Federal Deposit Insurance Corporation) protects depositors against the loss of their insured deposits if an FDIC-insured bank fails. EDIE (Electronic Deposit Insurance Estimator) helps calculate your coverage based on account balances and ownership types.

2. How Does the Calculator Work?

The calculator uses FDIC rules to determine coverage:

Where:

• Standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category
• Different ownership types have different coverage limits
• Joint accounts are insured separately from single accounts

3. Importance of FDIC Coverage

Details: Understanding your FDIC coverage helps ensure your deposits are fully protected in case of bank failure. It's particularly important for those with large balances or complex account structures.

4. Using the Calculator

Tips: Enter your total account balance in dollars and select the ownership type. The calculator will estimate your FDIC insurance coverage based on current rules.

5. Frequently Asked Questions (FAQ)

Q1: What accounts are covered by FDIC?
A: Checking accounts, savings accounts, money market deposit accounts, and certificates of deposit (CDs).

Q2: What's not covered by FDIC?
A: Stocks, bonds, mutual funds, life insurance policies, annuities, municipal securities, safe deposit boxes, or U.S. Treasury bills/bonds/notes.

Q3: Are joint accounts separately insured?
A: Yes, joint accounts are insured separately from single accounts, up to $250,000 per co-owner.

Q4: How are trust accounts covered?
A: Revocable trust accounts are insured up to $250,000 per owner per beneficiary.

Q5: Where can I get official FDIC insurance information?
A: Visit the official FDIC website at www.fdic.gov for the most current information.