FDIC Insurance

20230301_rev01 · COMPARED WITH 20220701_rev01 · ARCHIVE SNAPSHOT, DATE APPROXIMATE

Full text changes — 20220701_rev01 to 20230301_rev01

1717Use the FDIC's [Electronic Deposit Insurance Estimator (EDIE)](http://www.fdic.gov/edie) to calculate your FDIC coverage for FDIC-insured banks where you have deposit accounts.
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1919You can also use the FDIC's estimator for hypothetical situations. For instance, if you would like to see how much of some assets would be covered by FDIC insurance, you can enter bank and account information and get an estimate on how much would be insured.
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2121The following products are eligible for FDIC coverage at Schwab's Affiliated Banks:
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23- [Schwab Bank High Yield Investor Checking® accounts](https://www.schwab.com/public/schwab/banking_lending/checking_account)
24- [Schwab Bank High Yield Investor Savings® accounts](https://www.schwab.com/public/schwab/banking_lending/savings_account)
23- [Schwab Bank Investor Checking™ accounts](https://www.schwab.com/public/schwab/banking_lending/checking_account)
24- [Schwab Bank Investor Savings™ accounts](https://www.schwab.com/public/schwab/banking_lending/savings_account)
2525- [Bank Sweep Feature](https://www.schwab.com/public/schwab/investing/accounts_products/investment/money_markets_funds/sweep_money_funds)-Your Schwab brokerage account includes a feature that pays interest on idle cash. If your account uses the Bank Sweep Feature, your cash balances are automatically swept to one or more Program Banks where it is eligible for FDIC insurance. To see which cash feature you have, [log in](https://client.schwab.com/trading/start) and go to your Brokerage Account Balances page.
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2727All deposits held at the same FDIC-insured bank in the same ownership capacity (as described in the previous section) are added together to determine your total amount of FDIC insurance coverage at that bank. This rule applies whether you open an account directly at the bank or Schwab brokerage holds the accounts on your behalf. (See Example 2 below.)
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2929Charles Schwab & Co., acting as a deposit broker, can place deposits at FDIC-insured banks on your behalf. In this case, the FDIC insurance available from the bank "passes through" to you. FDIC-insured deposits are available through your Schwab brokerage account for:
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4141- Municipal securities
4242- Money market funds
4343- Cash held in Schwab One® Interest Feature
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4545Example 1: If you have a Schwab brokerage account, in just your name, with two $250,000 CDs from two different banks, and you have no other deposits at those banks, your CDs would be covered for a total of $500,000 ($250,000 at each bank). However, if those two CDs are from the same bank, then FDIC insurance would cover a total of only $250,000 (leaving $250,000 of these CDs uninsured by the FDIC).
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47Example 2: If you have a Schwab Bank High Yield Investor Checking account, in just your name, with $200,000 and a Schwab brokerage (non-retirement) account with Bank Sweep Feature, in just your name, that has swept cash balances of $75,000 into deposits at Schwab Bank, then FDIC insurance would cover a total of $250,000 (leaving $25,000 of these deposits uninsured by the FDIC).
47Example 2: If you have a Schwab Bank Investor Checking account, in just your name, with $200,000 and a Schwab brokerage (non-retirement) account with Bank Sweep Feature, in just your name, that has swept cash balances of $75,000 into deposits at Schwab Bank, then FDIC insurance would cover a total of $250,000 (leaving $25,000 of these deposits uninsured by the FDIC).
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4949Calculating deposit insurance can be complex, especially if you have multiple accounts registered in the same ownership capacity.
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5151For more information, use the [FDIC's Electronic Deposit Insurance Estimator (EDIE)](http://www.fdic.gov/edie) to estimate your total coverage at a particular bank.
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5353For more information about FDIC-insured products available through Schwab's Affiliated Banks or your Schwab brokerage account, [contact us](https://www.schwab.com/public/schwab/client_home/contact_us).