From December 31, 2010 through December 31, 2012, all noninterest-bearing transaction accounts are fully insured, regardless of the account balance and the ownership capacity of the funds. This coverage is available to all depositors, including consumers, businesses, and government entities. The unlimited coverage is separate from, and in addition to, the insurance coverage provided for a depositor's other accounts held at an FDIC-insured bank.  

A noninterest-bearing transaction account is a deposit account where:

• interest is neither accrued nor paid;
• depositors are permitted to make an unlimited number of transfers and withdrawals; and
• the bank does not reserve the right to require advance notice of an intended withdrawal.

A noninterest-bearing transaction account also includes all deposits placed in an Interest on Lawyers Trust Account (IOLTA) or its equivalent.

Note: Money Market Deposit Accounts (MMDAs) and Negotiable Order of Withdrawal (NOW) accounts are not eligible for this temporary unlimited insurance coverage, regardless of the interest rate, even if no interest is paid

The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category. Click here to view a Summary of Deposit Insurance Coverage

To Calculate Your Deposit Insurance Coverage, Click Here

The U.S. Department of the Treasury will pay all federal benefit and non-tax payments electronically. Benefit recipients can choose to receive their payments by direct deposit to a bank or to a Direct Express^® Debit MasterCard^® card account.

Act now to get your money safely and quickly – on time, every time!

Retiring or applying for federal benefits soon? Be ready.
If you will apply for federal benefits on or after May 1, 2011, you will need to choose your preferred electronic payment option when you enroll to receive benefits from the Social Security Administration, Veterans Affairs, Railroad Retirement Board, Office of Personnel Management or Department of Labor (Black Lung).  

Already getting federal benefits payments by paper check?    Switch today!
You will need to make the switch from paper benefit checks to electronic payments by March 1, 2013.

If you do not choose an electronic payment option by           March 1, 2013, or at the time you apply for federal benefits, you will receive your payments via the Direct Express^® card so you will not experience any interruption in payment.

If you are already receiving your federal benefit payments electronically, this change will not affect you.