EDIE the Estimator can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits.

Your New, Higher FDIC Insurance Coverage

Through June 30, 2010, certain checking accounts at participating institutions will be fully insured by the FDIC, no matter how much money is in them. This special coverage applies only to non-interest checking accounts and certain other low-interest transaction accounts. While the rule is primarily for businesses with large balances in their checking accounts, consumers also can benefit. On August 26, 2009, the FDIC adopted the final rule extending the Transaction Account Guarantee (TAG) portion of the Temporary Liquidity Guarantee Program from December 31, 2009 until June 30, 2010.

For example, let's say you and your spouse sell your home in early 2009 and you'll be using the proceeds – $800,000 – to buy another house a week later. If you deposit $800,000 jointly into an eligible checking account at a participating bank – and the bank fails – all the money would be fully protected by FDIC insurance. Otherwise, if the money is not in an eligible checking account at a participating institution, it would only be covered to $500,000 (assuming you have no other joint accounts at the same bank), leaving $300,000 at risk of loss if the bank fails and the funds are still in the account.

For more information about the rule changes, visit www.fdic.gov/deposit/deposits/changes.html. And if you have questions or concerns about your deposit insurance coverage in general, you can always go to our Web site or call the FDIC; learn how to contact us on For More Help from the FDIC About Deposit Insurance and Other Topics. 

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