Federal Deposit Insurance

Each Deposit is insured $250,000, Federal Deposit Insurance Corporation

PNC Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

The Federal Deposit Insurance Corporation (FDIC) is a federal agency organized in 1933 that insures depositors' accounts up to the insured amount at most commercial banks and savings associations.

Frequently Asked Questions

This information is intended to be used for reference only. It is not legal, tax or accounting advice, and it is not intended to provide answers to insurance coverage questions related to specific account circumstances. This information is not a recommendation to take any or all of the steps described here. The decision to add joint owners or beneficiaries to an account should be made carefully and based on factors specific to your situation, not just deposit insurance considerations. Please consult a legal, tax or accounting professional for advice in those areas.

FDIC deposit insurance covers certain deposit products, such as checking and savings accounts, money market deposit accounts, and certificates of deposit. Prepaid cards are covered by deposit insurance if certain FDIC requirements are met.

Non-deposit investment products are not insured by the FDIC, even if they were purchased from an insured bank. These include:

  • Stock investments
  • Bond investments
  • Safe deposit boxes
  • Mutual funds
  • Life insurance policies
  • Municipal securities

Note: US Treasury bills, bonds or notes are not covered by deposit insurance and are backed by the full faith and credit of the US government. 

The standard deposit insurance amount is $250,000 per depositor, per ownership category, at an insured bank.

No, the FDIC is an independent government agency and its insurance coverage is consistent across all insured banks.

  • Single Accounts (owned by one person): $250,000 per owner. All single accounts owned by the same person at the same bank are added together and insured up to $250,000
  • Joint Accounts (owned by two or more persons): $250,000 per co-owner. Each co-owner’s share of every joint account at the same bank are added together and insured up to $250,000
  • Certain Retirement Accounts (includes IRAs): $250,000 per owner
  • Revocable Trust Accounts, including “Payable on Death” or “In Trust For” accounts (POD/ITF): generally $250,000 per owner, per unique beneficiary
  • Corporation, Partnership or Unincorporated Association Accounts: $250,000 per corporation, partnership or unincorporated association

The FDIC provides separate insurance coverage for funds depositors may have in different categories of legal ownership, which the FDIC refers to as “ownership categories.” This means a bank customer who has multiple accounts at an insured institution may qualify for more than $250,000 in insurance coverage if the customers funds are deposited under different ownership categories and the requirements for each ownership category are met.

For example, if the customer has a single account, and a joint account with their spouse, the single account would be insured up to $250,000, and the joint account, with two owners, would be insured separately from the single account, up to $500,000.

In another example, a revocable trust account – which includes accounts designated as payable on death (POD) – with one owner, naming three beneficiaries, can be insured up to $750,000.

Note: These examples assume that these accounts are the only accounts owned by these parties at the insured bank.

This is a snapshot summary of common considerations in FDIC insurance. It is not a comprehensive explanation of FDIC rules for calculating insurance coverage. For more detailed information about your specific situation, we encourage you to use the Electronic Deposit Insurance Estimator (EDIE), available at FDIC.gov. You can also visit theFDIC: Information and Support Center - Home to submit a request for deposit insurance coverage information or call 1-877-ASK-FDIC (1-877-275-3342) to ask any other specific deposit insurance questions.


Important Information on Federal Deposit insurance Coverage (FDIC)

The FDIC Insurance Coverage limit is $250,000 per depositor, per institution. To understand more about FDIC or to learn more about how to maximize coverage, you may refer to www.fdic.gov/EDIE/

Deposits maintained in different categories of legal ownership can be separately insured.

Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured.

Types of PNC Bank Products that the FDIC insures include:

  • Checking Accounts
  • Money Market Deposit Accounts
  • Savings Accounts
  • Certificates of Deposit (CDs)
  • Deposit Accounts owned by certain types of Trusts

Basic FDIC Deposit Insurance Coverage Limits*

  • Single Accounts (owned by one person) – $250,000 per owner
  • Joint Accounts (two or more persons) – $250,000 per co-owner
  • IRAs and certain other retirement account – $250,000 per owner (not changed)

* These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

For More Information From the FDIC

Calculate your insurance coverage using the FDIC's Electronic Deposit Insurance Estimator: www.fdic.gov/EDIE/

Learn more about FDIC insurance: www.fdic.gov/deposit