Below are answers to some of the most common questions about the 多宝游戏下载 and deposit insurance. If you have questions that are not addressed here, please visit the to submit a request for deposit insurance coverage information or call 1-877-ASK-多宝游戏下载 (1-877-275-3342).
Q: What is the 多宝游戏下载?
A: The 多宝游戏下载 (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits in the event that an 多宝游戏下载-insured bank or savings association fails. 多宝游戏下载 insurance is backed by the full faith and credit of the United States government.
Q: What is deposit insurance?
A: 多宝游戏下载 deposit insurance protects bank customers in the event that an 多宝游戏下载-insured depository institution fails. Bank customers don鈥檛 need to purchase deposit insurance; it is automatic for any deposit account opened at an 多宝游戏下载-insured bank. Deposits are insured up to at least $250,000 per depositor, per 多宝游戏下载-insured bank, per ownership category.
Deposit insurance is calculated dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default. 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.
Q: What happens when a bank fails?
A: In the unlikely event of a bank failure, the 多宝游戏下载 responds in two capacities.
First, as the insurer of the bank's deposits, the 多宝游戏下载 pays insurance to depositors up to the insurance limit. Historically, the 多宝游戏下载 pays insurance within a few days after a bank closing, usually the next business day, by either 1) providing each depositor with a new account at another insured bank in an amount equal to the insured balance of their account at the failed bank, or 2) issuing a check to each depositor for the insured balance of their account at the failed bank.
In some cases鈥攆or example, deposits that exceed $250,000 and are linked to trust documents or deposits established by a third-party broker鈥攖he 多宝游戏下载 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.
Second, as the receiver of the failed bank, the 多宝游戏下载 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. If a depositor has uninsured funds (i.e., funds above the insured limit), they may recover some portion of their uninsured funds from the proceeds from the sale of failed bank assets. However, it can take several years to sell off the assets of a failed bank. 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.
Q: How can I get deposit insurance?
A: Depositors do not need to apply for or purchase 多宝游戏下载 deposit insurance. Coverage is automatic whenever a deposit account is opened at an 多宝游戏下载-insured bank. If you want your funds insured by the 多宝游戏下载, simply place your funds in a deposit account at an 多宝游戏下载-insured bank and make sure that your deposit does not exceed the insurance limit for that ownership category. See 鈥淎re My Accounts Insured by the 多宝游戏下载?鈥 for more information about the types of insurable products that are covered by 多宝游戏下载 insurance and the amount of deposit insurance coverage that may be available under 多宝游戏下载鈥檚 different ownership rights and capacities.
Q: How do I find out if a bank is 多宝游戏下载-insured?
A: To determine if a bank is 多宝游戏下载-insured, you can ask a bank representative, look for the 多宝游戏下载 sign at your bank, or you can use the . BankFind allows you to access detailed information about all 多宝游戏下载-insured institutions, including branch locations, the bank's official website, the current operating status of your bank, and the regulator to contact for additional information and assistance. You can also submit a request using the or call 1-877-275-3342.
Q: How much deposit insurance coverage do I qualify for?
A: The standard deposit insurance amount is $250,000 per depositor, per 多宝游戏下载-insured bank, per ownership category.
See 鈥淎re My Accounts Insured by the 多宝游戏下载?鈥 for more information about the types of insurable deposit products that are covered by 多宝游戏下载 insurance and the amount of deposit insurance coverage that may be available under 多宝游戏下载鈥檚 different ownership categories. Your Insured Deposits includes even more comprehensive information about deposit insurance coverage, and provides examples of deposit insurance coverage for various ownership categories.
To calculate your specific deposit insurance coverage, you can use the 多宝游戏下载's Electronic Deposit Insurance Estimator .
Q: Is every financial product at a bank covered by the 多宝游戏下载?
A: No. 多宝游戏下载 deposit insurance only covers certain deposit products, such as checking and savings accounts, money market deposit accounts (MMDAs), and certificates of deposit (CDs). See 鈥淎re My Accounts Insured by the 多宝游戏下载?鈥 for a full list of the types of deposit products that are covered by 多宝游戏下载 insurance and the amount of deposit insurance coverage that may be available under 多宝游戏下载鈥檚 different ownership categories.
Investment products that are not deposits, such as mutual funds, annuities, life insurance policies and stocks and bonds, are not covered by 多宝游戏下载 deposit insurance. See 鈥淔inancial Products that Are Not Insured by the 多宝游戏下载鈥 for more information about uninsured financial products.
Q: What is the difference between 鈥渄eposit products and 鈥渙wnership categories鈥?
A: Deposit products include checking accounts, savings accounts, CDs and MMDAs and are insured by the 多宝游戏下载. The amount of 多宝游戏下载 insurance coverage you may be entitled to, depends on the ownership category. This generally means the manner in which you hold your funds. Some examples of 多宝游戏下载 ownership categories, include single accounts, certain retirement accounts, employee benefit plan accounts, joint accounts, trust accounts, business accounts as well as government accounts.
Q: Can I have more than $250,000 of deposit insurance coverage at one 多宝游戏下载-insured bank?
A: Yes. The 多宝游戏下载 insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $250,000 per depositor, per 多宝游戏下载-insured bank, per ownership category.
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.
See 鈥淎re My Accounts Insured by the 多宝游戏下载?鈥 for more information about the types of deposit products that are covered by 多宝游戏下载 insurance and the amount of deposit insurance coverage that may be available under 多宝游戏下载鈥檚 different ownership categories.
Q: How Does the 多宝游戏下载 Insure Prepaid Cards?
A: Prepaid cards that are registered with the card issuer are insured when certain 多宝游戏下载 requirements are met. The funds underlying the prepaid cards must be deposited in a bank. Please remember that 多宝游戏下载 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.
Q: What are the 多宝游戏下载 coverage limits for Prepaid Cards?
A: If certain 多宝游戏下载 requirements are met, funds on a prepaid card will be insured up to $250,000 (together with any other funds in the same ownership category that the cardholder may have established in another deposit account in the same bank). Click here for more information about deposit insurance coverage for prepaid cards.
Q: Can I check to see if my accounts are fully covered?
A: Yes. You can get detailed information about your specific deposit insurance coverage by accessing the 多宝游戏下载's Electronic Deposit Insurance Estimator and entering information about your accounts. You can also visit the to submit a request for deposit insurance coverage information or you can also call the 多宝游戏下载 at 1-877-ASK-多宝游戏下载 (1-877-275-3342) and an 多宝游戏下载 deposit insurance specialist will help you calculate your deposit insurance coverage.