FDIC insurance is $250,000 per ownership category at each bank — not per account, and not per person

“FDIC deposit insurance covers $250,000 per depositor, per FDIC-insured bank, for each account ownership category.” Three qualifiers, and none of them is the account. Opening a second checking account at the same bank adds nothing.^[1]

The page says so directly — “All of your deposits in the same ownership category in the same FDIC-insured bank are added together for the purpose of determining FDIC deposit insurance coverage. However, you may qualify for more than $250,000 in FDIC deposit insurance coverage if you deposit money in accounts that are in different ownership categories.”^[1]

The FAQ puts the same point as a question of form, not of product — “The amount of FDIC insurance coverage you may be entitled to, depends on the ownership category. This generally means the manner in which you hold your funds.” So the question is never “how many accounts” but “in what capacity do you hold the money.”^[2]

Two singles plus a retirement account — “If you have two single ownership accounts (such as a checking account and a savings account) and an individual retirement account (IRA) at the same FDIC-insured bank, then you will be insured up to $250,000 for the combined balance of the funds in the two single ownership accounts. You will be separately insured up to $250,000 for the funds in the IRA, because IRAs are in a different account ownership category.”^[1]

Single plus joint — “If you have a single ownership account at an FDIC-insured bank, and you have a joint ownership account with one or more people at the same bank, you will be insured for up to $250,000 for your single ownership account deposits and also insured separately for your ownership interest up to $250,000 for all of your joint ownership account deposits.” And two banks — “If you have a single ownership account in one FDIC-insured bank, and another single ownership account in a different FDIC-insured bank, you will be insured for up to $250,000 for your single account deposits at each FDIC-insured bank.”^[1]

The largest figure on either page is at a single bank — “Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank. For example, a revocable trust account (including living trusts and informal revocable trusts commonly referred to as payable on death (POD) accounts) with one owner naming three unique beneficiaries can be insured up to $750,000.” $750,000 at one bank, in one category, for one owner.^[2]

“FDIC deposit insurance only covers deposits, and only if your bank is FDIC-insured.” And being sold by the bank does not help — “FDIC insurance covers deposits in all types of accounts at FDIC-insured banks, but it does not cover non-deposit investment products, even those offered by FDIC-insured banks.”^[1]

The uncovered list includes some things people expect to be covered — the page lists, among products that are not covered, “U.S. Treasury bills, bonds, or notes”, “Safe deposit boxes or their contents” and “Crypto assets”. Treasuries are not FDIC-insured; they are a direct obligation of the Treasury instead, which is a different thing from this insurance.^[1]

And the trigger is narrow — “Please remember that FDIC deposit insurance coverage only applies when a bank fails. Deposit insurance coverage does not apply to lost or stolen prepaid cards or if the prepaid card provider declares bankruptcy.” Fraud, a lost card, or a fintech going under are not bank failure.^[2]

Coverage is not something you buy — “Bank customers don't need to purchase deposit insurance; it is automatic for any deposit account opened at an FDIC-insured bank.” And it is counted with interest — “Deposit insurance is calculated dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default.” The agency's own example — “For example, if a customer had a CD account in her name alone with a principal balance of $195,000 and $3,000 in accrued interest, the full $198,000 would be insured.”^[2]

Payment is usually fast — “Historically, the FDIC pays insurance within a few days after a bank closing, usually the next business day”. But not always — “In some cases-for example, deposits that exceed $250,000 and are linked to trust documents or deposits established by a third-party broker-the FDIC may need additional time to determine the amount of deposit insurance coverage and may request supplemental information from the depositor in order to complete the insurance determination.”^[2]

Above the limit you are a creditor, not an insured depositor — “Second, as the receiver of the failed bank, the FDIC assumes the task of selling/collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit.” “As assets are sold, depositors who had uninsured funds usually receive periodic payments (on a pro-rata "cents on the dollar" basis) on their remaining claim.” “However, it can take several years to sell off the assets of a failed bank.”^[2]

Both pages carry the same stamp — “Last Updated: April 1, 2024” So this entry records the agency's consumer pages as they stood when read on 2026-09-29, not the codified rule.^[1]

Not read: 12 CFR Part 330, the regulation these pages summarise. The FDIC links it at eCFR.gov, and on 2026-09-29 that site returned a page stating that programmatic access is limited to its developer APIs. The request returned HTTP 200 and no regulation text — it was counted as not read.^[1][2]

Also not settled: why both pages say “at least $250,000” in some places and “$250,000” in others without explaining the difference; how the seven ownership categories are each defined; and how long a receivership actually takes, beyond “several years”. One agency, two of its consumer pages. The FDIC's claim that “Since the FDIC was founded in 1933, no depositor has lost a penny of FDIC-insured funds.” is its own statement about itself and was not checked against any other record.^[1][2]