— Tom Transpire
These are deposit accounts owned by two or more people. If both owners have equal rights to withdraw money from a joint account, each person’s shares of all joint accounts at the same insured bank are added together and the total is insured up to $100,000.
If a couple has a joint checking account and a joint savings account at the same insured bank, each co-owner’s shares of the two accounts are added together and insured up to $100,000, providing up to $200,000 in coverage for the couple’s joint accounts.
Note: Jointly owned qualifying trust accounts are not included in this ownership category.
Sleep well tonight knowing that your joint accounts are FDIC-insured up to $200,000. Deposit insurance limits have been increased for some retirement accounts, providing additional coverage for those accounts.
For people who want to confirm their deposits are FDIC-insured, EDIE, the FDIC’s Electronic Deposit Insurance Estimator, provides additional peace of mind.
To ask a question of Dr. Don, go to the ” Ask the Experts” page, and select one of these topics: “Financing a home,” “Saving & investing” or “money.”