With changes in banking legislation, what does “FDIC Insured€ really mean these days?
Many bank depositors are wondering how the new FDIC insurance rules and limits apply to their deposit accounts — and what is exactly insured and what portion of their deposits of hard-earned money may exceeds coverage limits at a bank.
If you’re unsure that you’re fully-protected, ‘EDIE the Estimator’ on the FDIC website will calculate your current FDIC insurance on deposits at financial institutions, based on some simple information inputted into the online calculator. EDIE also allows the user to print the report for their records.
The website address for this FDIC-provided tool is: https://www.fdic.gov/EDIE/index.html