Quick answer: Bank deposits (checking, savings, CDs) up to $250,000 per depositor per bank are backed by the FDIC, an independent federal agency – this is real, verifiable insurance, not a claim that your savings are secretly ‘collateral’ for something else, though amounts above the coverage limit at a single bank are genuinely uninsured.

What FDIC insurance actually covers

The FDIC insures deposit accounts up to $250,000 per depositor, per insured bank, per ownership category, protecting against the bank’s failure – a specific, published, and legally enforceable guarantee, not marketing language.

What is and isn’t covered

FDIC insurance does not cover investment losses in stocks, bonds, mutual funds, or precious metals, even if purchased through a bank – and deposits exceeding $250,000 at a single bank in the same ownership category are not covered for the excess amount, which is a real, checkable limit worth knowing.

Frequently Asked Questions

Is my Gold or Silver IRA FDIC insured?

No – the metal itself is not a deposit account and carries no FDIC insurance; any cash sitting in an IRA’s cash account at an FDIC-member bank would be insured, but the metal’s market value is not.

How do I check if my bank is FDIC-insured?

Use the FDIC’s BankFind tool at fdic.gov to verify any bank’s insured status.

Source: FDIC: Deposit Insurance

Written by Samuel, Certified Public Accountant. Published August 2026. Last updated: August 2026.