Deposit insurance is different from a promise that every financial product is protected. The FDIC describes standard coverage as $250,000 per depositor, per insured bank, for each account ownership category. The important words are depositor, bank, and ownership category. Counting apps or account nicknames does not answer those questions.
Two accounts, one hypothetical category
| Deposit at the same insured bank | Balance |
|---|---|
| Single-owner checking | $200,000 |
| Single-owner savings | $80,000 |
| Combined in the assumed category | $280,000 |
| Standard coverage limit for this illustration | $250,000 |
| Amount over that limit | $30,000 |
This example assumes both deposits belong to the same person in the same single-account ownership category at the same FDIC-insured bank. The different account types do not create two separate $250,000 limits. A different ownership category may have different requirements; do not assign one just by changing the account’s nickname.
Make an institution map
- Find the legal bank name behind each deposit account. If you use an app, read which bank holds the funds.
- Verify the institution through the FDIC’s official bank information, rather than relying solely on a marketing logo.
- Record owner names, ownership category, and all balances at that bank that may need to be combined.
- Use the FDIC’s coverage estimator or contact the bank/FDIC for complex ownership arrangements.
For an app or other intermediary, the details of where funds are held and whether applicable requirements are met matter. Do not assume that “partner bank” language alone confirms coverage for your situation. Deposit insurance does not protect an investment from losing market value or provide a universal guarantee against every scam or operational problem.
Do not mix deposits with investments
A savings account and a money market mutual fund can sound similar while being different products. Identify the actual product and insurer, if any. Federally insured credit unions use a different insurance system; this guide’s example is specifically about FDIC-insured bank deposits. For a brokerage sweep, review the program’s bank list and any other deposits you hold at those banks.
Update the map when balances grow, banks merge, or account ownership changes. If you have substantial deposits or trust accounts, a simple table may not be enough to determine coverage. Use official tools and qualified help instead of treating this fictional arithmetic as a coverage determination.
FDIC deposit insurance information
Assumptions and limits
Separate arithmetic from a coverage determination
In the fictional same-bank, same-category example, a further $25,000 deposit raises the combined balance from $280,000 to $305,000. Comparing that total with the assumed $250,000 limit leaves $55,000 above the illustrated limit. Renaming the savings account “vacation” would not change that arithmetic or establish a new legal ownership category.
Use the institution-map download to record the actual legal bank and ownership details. Leave a field marked “to verify” if you do not know which institution holds an app’s funds. That uncertainty is more useful than a guessed insurance label. For a real determination, follow the FDIC’s official information and relevant coverage tools; this worksheet is an inventory, not a coverage certificate.
Use the worksheet
Download the blank CSV and fill it in privately in a spreadsheet app. It is an organizational template; it contains no automatic formulas. Use account nicknames, not account numbers. Do not upload the completed file to this website.
Download this guide’s worksheet (CSV) · Browse all worksheets
Suggested fields: Legal bank name, Ownership category to verify, Account nickname, Owner, Balance, Other deposits at bank, Official verification date.
