Congress permanently increased the standard maximum deposit insurance amount to $250,000 per depositor. All deposits above the FDIC limit are insured in full by the Depositors Insurance Fund.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS.
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest -bearing account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/covered/categories.html
Find out more about FDIC’s deposit insurance.
Find out more about Depositors Insurance Fund.