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Basic FDIC Insurance Coverage Permanently Increased to $250,000 Per Depositor

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum deposit insurance of $100,000 had been temporarily raised to $250,000 until December 21, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.

FDIC Chairman Sheila C. Bair strongly encourages bank depositors who have questions about their insurance coverage to go to the FDIC website at www.fdic.gov and use the Electronic Deposit Insurance Estimator (EDIE) or call them at their toll free number at 1-877-ASK-FDIC.