how much does the fdic insure

 The FDIC insures deposits up to $250,000 per depositor, per insured bank, for each account ownership category. Here’s a breakdown of what this means:

• Per Depositor: Each individual depositor is insured up to $250,000 at each FDIC-insured bank.

• Per Bank: If you have deposits in multiple banks, each account is insured separately up to $250,000. However, if you have multiple accounts at the same bank (e.g., checking and savings), they are combined for insurance purposes unless they are in different ownership categories.

• Ownership Categories: Different types of accounts, or ownership categories, are insured separately. For example:

  • Individual accounts (one owner) are insured up to $250,000.
  • Joint accounts (two or more people) are insured up to $250,000 per co-owner.
  • Certain retirement accounts, such as IRAs, are insured separately up to $250,000.

This means that a person could potentially have more than $250,000 insured if they hold deposits in different ownership categories or across multiple banks.