Are all bank accounts insured by the FDIC?

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August 2016
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FDIC insurance coverage depends on two things, whether your chosen financial product is deposit product, and whether your bank is FDIC-insured.

Here are the accounts that are covered;

  • Checking Accounts
  • Negotiable Order of Withdrawal (NOW Accounts)
  • Savings Account
  • Money Market Deposit Accounts (MMDAs)
  • CDs

The FDIC Does not cover;

  • Stocks
  • Bonds
  • Mutual Funds
  • Exchange Traded Funds (ETFs)
  • Life Insurance Products
  • Annuities
  • Municipal Securities
  • Safe deposit boxes
  • US Treasury bills, bonds or notes

Joseph Carbone, Jr., CFP®, AIF®

August 2016
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September 2016