Is my money safe?

What FDIC insurance actually covers

The Federal Deposit Insurance Corporation (FDIC) is an independent US government agency. If an FDIC-insured bank fails, the FDIC pays depositors directly, up to the insurance limit, backed by the full faith and credit of the United States. No depositor has ever lost a penny of FDIC-insured funds since the agency was created in 1933.

Coverage is $250,000 per depositor, per insured bank, per ownership category. Those three dimensions are the key — and they’re why many people are insured for far more than $250,000 without realizing it.

The three dimensions, in plain terms

• Per depositor: the limit applies to you as an individual.
• Per insured bank: $250,000 at Bank A and $250,000 at Bank B are separately insured.
• Per ownership category: a single account, a joint account, and certain retirement accounts are each insured separately — even at the same bank.

A quick example

A married couple at one bank can cover $1,000,000 easily: $250,000 each in two single accounts, plus $500,000 in a joint account ($250,000 per co-owner). Same bank, fully insured.

How to make sure you’re fully covered

• Confirm your bank is FDIC-insured (every bank profile on BankSonar shows its FDIC certificate number).
• Keep each ownership category at or under $250,000 per bank.
• Spread larger balances across multiple insured banks, or use different ownership categories.
• Use the FDIC’s official EDIE estimator for your exact situation.

What the Sonar Score is — and isn’t

BankSonar’s Sonar Score is an informational signal built from a bank’s public FDIC financials. It can help you understand a bank’s capital strength and profitability at a glance. It is nota guarantee, a credit rating, or financial advice, and it does not change your FDIC coverage. Insured deposits are protected regardless of a bank’s score. See the full methodology →