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Temporary
FDIC Insurance Coverage
for Transaction Accounts
Under this program, all funds in a "non-interest-bearing transaction account" are insured in full by the FDIC from December 31, 2010 through December 31, 2012. This temporary, unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "non-interest-bearing transaction account"
includes a traditional checking account or demand deposit account on which
the insured depository institution pays no interest. It does not include
other accounts, such as traditional checking or demand deposit accounts that
may earn interest, NOW accounts, and money market deposit accounts.
For more information, visit the
FDIC's website.
FDIC Deposit Insurance
FDIC deposit insurance has been permanently
increased from $100,000
to $250,000 per depositor as of July
22, 2010.
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