Most banks are FDIC insured, but not all financial institutions are

The easiest way to know if your bank is FDIC insured is to look it up on the FDIC's official website using their BankFind tool. You enter your bank's name or the city where you bank, and the tool tells you whether that specific branch is covered. This takes about 30 seconds and removes any guessing.

If you cannot access the tool or want to check while you are at the bank, look for the FDIC logo on the bank's website, in the lobby, or on deposit account agreements. The logo is a blue rectangle with white letters. Banks that are FDIC insured are required to display it. However, the presence of a logo alone is not proof — some non-insured institutions display similar-looking logos illegally, which is why the BankFind tool is the only reliable check.

Not every place that takes deposits is a bank. Credit unions are insured by a different agency called the NCUA (National Credit Union Administration), not the FDIC. Online banks, savings banks, and checking accounts at investment firms may or may not be insured. The type of institution matters as much as the name on the door.

Key Takeaways

  • Use the FDIC's BankFind tool at fdic.gov to confirm whether your specific bank branch is insured.
  • All national banks (those with "National" in the name or "N.A." after the name) are required to be FDIC insured.
  • State-chartered banks may or may not be FDIC insured, so checking is necessary even if the bank is legitimate.
  • Credit unions are insured by the NCUA, a separate federal agency, not the FDIC.
  • An FDIC logo in the lobby or on a website is not proof of insurance — use BankFind to verify.

National banks are automatically FDIC insured

If your bank's name includes the word "National" or ends with "N.A." (which stands for National Association), it is FDIC insured by law. Examples include Bank of America N.A., Wells Fargo Bank, National Association, and First National Bank of Chicago. These banks have no choice — federal law requires them to carry FDIC insurance.

This does not mean every bank with "National" in the name is a national bank. Some state-chartered banks use the word "National" in their marketing name but are not legally national banks. The "N.A." suffix is the clearer indicator. If you see it on your account statements or the bank's official registration, the bank is FDIC insured.

State-chartered banks may or may not be FDIC insured

State banks — those chartered by a state rather than the federal government — can choose whether to buy FDIC insurance. Most do, because customers trust the FDIC label and it makes the bank easier to do business with. But some state banks, particularly very small or very new ones, operate without FDIC insurance.

This is why you cannot assume a bank is insured just because it is legitimate and has been around for years. A state bank can be completely legal, well-run, and solvent without FDIC coverage. The only way to know is to check the BankFind tool or ask the bank directly. If a bank refuses to tell you whether it is FDIC insured, that is a warning sign.

Online banks and savings banks have different rules

Most online banks are FDIC insured because they are chartered as national banks or state banks that have purchased FDIC coverage. However, some online financial services are not banks at all — they are investment firms, payment processors, or money services businesses. These are not FDIC insured under any circumstances.

If you open a savings account or checking account at an online institution, use BankFind to verify. The tool works for online banks just as it does for brick-and-mortar ones. If the institution does not appear in BankFind, it is not FDIC insured. Some online platforms offer FDIC insurance through a partner bank, but the insurance covers only the accounts held at that partner bank, not the platform itself.

Credit unions are insured by the NCUA, not the FDIC

Credit unions are member-owned cooperatives, not banks, and they are insured by a separate federal agency called the National Credit Union Administration (NCUA). The coverage works the same way as FDIC insurance — your deposits are protected up to $250,000 per account category — but it is a different system run by a different agency.

If you bank at a credit union, look for the NCUA logo instead of the FDIC logo. You can verify NCUA insurance using the NCUA's Credit Union Locator tool on their website. The process is similar to BankFind: you enter the credit union's name and location, and the tool confirms whether it is insured.

What to do if your bank is not FDIC insured

If you discover your bank is not FDIC insured, you have three choices: move your money to an FDIC insured bank, keep only what you can afford to lose at the uninsured bank, or ask the bank why it chose not to carry insurance.

Some very small community banks operate without FDIC insurance because the cost is high relative to their size, or because they serve a niche market where customers understand and accept the risk. This does not make them unsafe — many uninsured banks are stable and well-managed. But it does mean your deposits are not protected if the bank fails. Moving your money takes a few days and costs nothing. Most people choose to move rather than take the risk.

How to use the FDIC BankFind tool

Go to fdic.gov and look for the BankFind link (it is usually on the home page under "Tools"). Click it, and you will see a search box. Type your bank's name, the city where you bank, or the bank's routing number. The tool will show you a list of branches and whether each one is FDIC insured.

The results page shows the bank's official name, the address of each branch, the date it was insured, and the name of the federal or state agency that chartered it. If your bank does not appear in the results, it is not FDIC insured. If it appears but shows "No" under the FDIC insurance column, it is a legitimate bank but not covered by FDIC insurance.

You can also call the FDIC directly at 1-877-ASK-FDIC (1-877-275-3342) and ask whether a specific bank is insured. A representative can answer in a few minutes and will give you the same information as the online tool.

Frequently Asked Questions

Does FDIC insurance cover all types of accounts at the same bank?

No. FDIC insurance covers different account categories separately — checking, savings, money market, and CDs are each insured up to $250,000. A joint account is insured separately from an individual account. If you have $200,000 in a checking account and $200,000 in a savings account at the same FDIC insured bank, both are fully covered.

If a bank fails, how long does it take to get my money back?

The FDIC typically deposits insured funds into a new account within one to two business days of a bank closure. In rare cases it may take longer, but the FDIC has never failed to pay insured deposits in full. Your money is not lost — it is transferred to another bank or paid directly to you.

Are savings accounts at investment firms like Fidelity or Charles Schwab FDIC insured?

Investment firms themselves are not FDIC insured, but they often hold customer cash in accounts at FDIC insured partner banks. The cash portion of your account may be covered, but investments like stocks and mutual funds are never FDIC insured. Check the firm's website or call to learn which partner bank holds your cash and whether it is FDIC insured.

What if I have more than $250,000 at an FDIC insured bank?

Amounts over $250,000 in the same account category are not insured. If you have $300,000 in a checking account, the FDIC covers $250,000 and you lose $50,000 if the bank fails. To protect more than $250,000, spread it across different account categories (checking, savings, CDs) or across multiple FDIC insured banks.

Can I trust a bank just because it says it is FDIC insured in its advertising?

Not without verification. Always use BankFind to confirm. Some non-banks illegally claim FDIC insurance in their marketing. The FDIC logo and the word "insured" are not enough — the tool is the only reliable source of truth.