FDIC Insurance

What is FDIC Insurance?

What exactly does it cover?

Know if your deposits are 100% FDIC-insured.

You may have questions about your money and how it is insured by the FDIC. We at Wells Fargo want to make sure that you have access to the tools and resources you need to understand how FDIC insurance works.

  • Wells Fargo Bank, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC).
  • The Federal Deposit Insurance Corporation (FDIC) was created in 1933 to provide insurance protection for depositors of failed banks and to help maintain sound conditions in the nation's banking system.
  • The FDIC is an independent agency of the U.S. Government. Since its inception, the FDIC has responded to thousands of bank failures. All insured deposits of failed banks and thrifts have been protected by the FDIC.
  • The FDIC has launched a tool at http://myfdicinsurance.gov/ that is designed to help consumers learn about what the benefits and limitations of deposit insurance mean for you. 1

What is insured by the FDIC?

  • All types of deposits held at Wells Fargo Bank are covered by FDIC insurance including:
    • Checking Accounts
    • NOW Accounts
    • Savings Accounts
    • Time Accounts (CDs)
    • Deposit products (such as CDs and Savings Accounts) held in IRAs and other retirement accounts
    • Outstanding Cashier's Checks, Money Orders, Loan Disbursement Checks, Interest Checks and Drafts issued by Wells Fargo

What amount of insurance coverage do I have for my accounts?

The FDIC Standard Maximum Deposit Insurance Amount (SMDIA) for deposits is $250,000 per depositor, per insured financial institution, for each account ownership category.

Coverage Over Basic Insurance

The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. It is possible to qualify for more than the current $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories. The ownership categories are (1) single, (2) joint, (3) revocable trust (informal revocable trusts such as Payable-on-death accounts and formal revocable trusts such as living/family trusts created for estate planning purposes), (4) irrevocable trusts, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) government.

What is not insured by the FDIC?

  • Wells Fargo also offers a range of investment accounts that do not qualify as deposits and are therefore not covered by FDIC insurance. Examples of non-deposit investment products that are not covered by FDIC deposit insurance include:
    • Investments in mutual funds
    • U.S. Treasury bills, notes, and bonds purchased through an insured institution
    • Annuities
    • Stocks, bonds, or other securities
    • Contents of a Safe Deposit Box

Where can I go if I still have questions?

  • You can call FDIC toll-free at 1-877-ASK-FDIC (877-275-3342) from 8:00 am until 8:00 pm (Eastern Time), Monday through Friday, or 9:00 am until 5:00 pm (Eastern Time), Saturday and Sunday, or contact them online at www.fdic.gov.
  • You can also call Wells Fargo directly at 1-800-869-3557, 24 hours a day, or visit one of our many convenient banking locations.