FDIC Home - Federal Deposit Insurance Corporation
FDIC - 75 years
FDIC Home - Federal Deposit Insurance Corporation

Skip Site Summary Navigation   Home     Deposit Insurance     Consumer Protection     Industry Analysis     Regulations & Examinations     Asset Sales     News & Events     About FDIC  

Home > Deposit Insurance > Are My Deposits Insured? > Your Insured Deposits

Your Insured Deposits

Skip Left Navigation Links
FDIC Insurance Basics
Ownership Categories
FAQs About FDIC Insurance
For More Information from the FDIC
Ownership Categories

Joint Accounts
A joint account is a deposit owned by two or more people. To qualify for insurance under this ownership category, all of the following requirements must be met:

  1. All co-owners must be people. Legal entities such as corporations, trusts, estates, or partnerships are not eligible for joint account coverage.

  2. All co-owners must have equal rights to withdraw deposits from the account. For example, if one co-owner can withdraw deposits on his or her signature alone but the other co-owner can withdraw deposits only with the signature of both co-owners, the co-owners do not have equal withdrawal rights.

  3. All co-owners must sign the deposit account signature card unless the account is a CD or is established by an agent, nominee, guardian, custodian, executor or conservator.

If all of these requirements are met, each co-owner's share of every account that is jointly held at the same insured bank is added together with the co-owner's other shares, and the total is insured up to $250,000.

The FDIC assumes that all co-owners' shares are equal unless the deposit account records state otherwise.

For example, a husband and wife could have up to $500,000 in one or more joint accounts at the same insured bank and the deposits would be fully insured. The husband's ownership share is insured up to $250,000 and the wife's ownership share is insured up to $250,000.

Insurance coverage of joint accounts is not increased by rearranging the owners' names or by changing the styling of their names. Alternating the use of "or," "and" or "and/or" to separate the names of co-owners in a joint account title also does not affect the amount of insurance coverage provided.

In addition, using different Social Security numbers on multiple accounts held by the same co-owners will not increase insurance coverage.

Joint Account Example
Account Title Deposit Type Account
Mary and John Smith
$   125,000
John or Mary Smith
Mary or John or Robert Smith
Total Deposits  
$ 625,000

Insurance coverage for each owner is calculated as follows:
Depositors Ownership
$ 262,500
$ 250,000
$ 12,500
$ 625,000
$ 600,000
$ 25,000


  • Mary's ownership share in all joint accounts equals 1/2 of the NOW account ($62,500), 1/2 of the savings account ($100,000), and 1/3 of the CD ($100,000), for a total of $262,500. Since her coverage in the joint ownership category is limited to $250,000, $12,500 is uninsured.

  • John's ownership share in all joint accounts is the same as Mary's, so $12,500 is uninsured.

  • Robert's ownership share in all joint accounts is 1/3 of the CD, or $100,000, so his share is fully insured.

Last Updated 10/04/2008 Customer Assistance Online Form

Home    Contact Us    Search    Help    SiteMap    Forms
Freedom of Information Act (FOIA) Service Center    Website Policies    USA.gov
FDIC Office of Inspector General