FDIC Deposit Insurance Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.
FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met. (For more details on the requirements, www.fdic.gov.)
Below are the standard insurance amounts for FDIC account ownership categories. All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount.
FDIC Deposit Insurance Coverage Limits by Account Ownership Category
Single Accounts - owned by one person
$250,000 per owner
Joint Accounts - owned by two or more persons
$250,000 per co-owner
Certain Retirement Accounts - includes IRAs
$ 250,000 per owner
Revocable Trust Accounts
$250,000 per owner per beneficiary up to 5 beneficiaries
(more coverage available with 6 or more beneficiaries subject to specific conditions and requirements)
Corporation, Partnership and Unincorporated Association Accounts
$250,000 per corporation, partnership or unincorporated association
Irrevocable Trust Accounts
$250,000 for the non-contingent, ascertainable interest of each beneficiary
Employee Benefit Plan Accounts
$250,000 for the non-contingent, ascertainable interest of each plan participant
$250,000 per official custodian
(more coverage available subject to specific conditions)
To calculate your deposit insurance coverage, use the FDIC's Electronic Deposit Insurance Estimator (EDIE).
For questions about FDIC coverage limits and requirements, visit the FDIC's Deposit's Section or call toll-free 1-877-ASK-FDIC or ask a representative at your bank.
Deposits at Vantage Bank Texas are FDIC insured. Vantage Bank Texas' FDIC identification number is 3405.