Federal Deposit Insurance Corporation - Insured Products

Insured Products

FDIC deposit insurance covers deposit accounts, which, by the FDIC definition, include:

• demand deposit accounts (checking accounts of a type that formerly could not legally pay interest), and negotiable order of withdrawal accounts (NOW accounts, i.e., savings accounts that have check-writing privileges)
• savings deposit accounts (savings accounts), and money market deposit accounts (MMDAs, i.e., higher-interest savings accounts subject to check-writing restrictions)
• time deposit accounts including certificates of deposit (CDs)
• outstanding cashier's checks, interest checks, and other negotiable instruments drawn on the accounts of the bank.
• accounts denominated in foreign currencies

Accounts at different banks are insured separately. All branches of a bank are considered to form a single bank. Also, an Internet bank that is part of a brick and mortar bank is not considered to be a separate bank, even if the name differs. Non-US citizens are also covered by FDIC insurance.

The FDIC publishes a guide entitled "Your Insured Deposits", which sets forth the general characteristics of FDIC deposit insurance, and addresses common questions asked by bank customers about deposit insurance.