FDIC Information and Support Center (2024)

FAQs

How do I get in touch with FDIC? ›

If you have a question or need banking related assistance, you can contact the FDIC at 1-877-ASKFDIC (1-877-275-3342) or visit FDIC.gov.

When a bank fails, the FDIC pays depositors by giving them an account at another insured bank in the amount equal to what they had at the failed bank, up to the insurance limits. If there's no bank to acquire the deposits, the FDIC simply issues the depositor a check within a few days.

The Federal Deposit Insurance Corporation (FDIC), through its Consumer Affairs Program, can answer many of your questions. Call toll-free at 1-877-ASK-FDIC (1-877-275-3342) from 8 a.m. until 6 p.m. Eastern Time, Monday through Friday. For Deaf or Hard of Hearing call 1-800-925-4618.

You can submit your complaint or inquiry online at the FDIC Information and Support Center at https://ask.fdic.gov/fdicinformationandsupportcenter/s/. Alternatively, you can submit a complaint via mail to the Consumer Response Unit at 1100 Walnut Street, Box#11, Kansas City, MO 64106.

Once the formal complaint has been filed:

An acknowledgement of receipt of the formal complaint will be issued; A letter delineating the issue(s) and identifying which claims will be accepted for investigation, or dismissed will be issued.

FDIC is an independent agency of the United States Government that protects you against the loss of your insured deposits if an insured bank fails. FDIC insurance is backed by the full faith and credit of the United States Government.

I think customer might be confused between FDIC member bank (FDIC insured) and Federal Reserve non-member bank (nothing to do with FDIC or with insurance). The FDIC's own advertising regulations specify that an FDIC insured bank can use the phrase "Member FDIC" in ads to indicate that deposits are insured.

The FDIC does not limit the number of beneficiaries a depositor may identify on a trust at a depository institution for trust accounts even if there are more than five beneficiaries. However, coverage is limited to $250,000 per beneficiary up to a maximum of $1,250,000 as described below.

Bottom line. Any individual or entity that has more than $250,000 in deposits at an FDIC-insured bank should see to it that all monies are federally insured. It's not only diligent savers and high-net-worth individuals who might need extra FDIC coverage.

FDIC deposit insurance covers $250,000 per depositor, per FDIC-insured bank, for each account ownership category.

Does the FDIC pay back insurance payments? ›

Federal law requires the FDIC to pay 100 percent of the insured deposits up to the federal limit — including principal and interest. If your bank fails and you have deposits over the limit, you may be able to recover some or, in rare cases, all of your uninsured funds.

Section 7(g) of the Federal Deposit Insurance Act (12 U.S.C. § 1817(g)(2)), provides that any action brought either by an insured depository institution, or by the FDIC, to recover the overpaid or underpaid amount of any assessment shall be brought within three years after the date the assessment payment was due.

A: FDIC deposit insurance protects bank customers in the event that an FDIC-insured depository institution fails. Bank customers don't need to purchase deposit insurance; it is automatic for any deposit account opened at an FDIC-insured bank.

To determine your deposit insurance coverage or ask any other specific deposit insurance questions, please visit the FDIC Information and Support Center or call 1-877-ASK-FDIC (1-877-275-3342).