A: As a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), your bank provides full insurance for its customers' deposits and accrued interest without limit or exception. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
Q: Are all types of deposit accounts fully insured in a bank providing both FDIC and DIF insurance?
A: Yes. All types and classes of deposit accounts are covered, including savings accounts, checking and NOW accounts, certificates of deposit (CDs), money market deposit accounts, and retirement deposit accounts.
Q: I am a depositor at an out-of-state branch of a DIF member bank. Are my deposits covered by DIF insurance?
Q: Are there any forms, applications, or special account titles required to receive full
A: No. There are no forms, applications, or special account title requirements. Full deposit insurance protection works simply. You automatically receive this added insurance benefit when you make any deposit at a DIF member bank.
Q: Does the DIF insure investments in bank mutual funds or annuities?
A: No. Both the FDIC and the DIF insure only bank deposits, and do not insure bank mutual funds or annuity products.
Q: How do I know if my bank provides DIF insurance coverage?
A: Most member banks display DIF signs on doors and at teller stations, and note their membership in advertisements and marketing brochures. Look for “Member FDIC / Member DIF”. If you are not sure, ask a customer service representative.
A: No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.