How can I be sure my money is safe in my bank account?
The FDIC insures your bank account to protect your money in the unlikely event of a bank failure.
Bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC), which is part of the federal government. The insurance covers accounts containing $250,000 or less under the same owner or owners. An account that contains more than $250,000 at one bank, or multiple accounts with the same owner or owners, is insured only up to $250,000. The protection does not come from taxes or congressional funding. Instead, banks pay into the insurance system, and the insurance provides their customers with protection. You can talk to your bank to confirm your coverage.