Institution data current as of · 413 tracked institutions
FDIC Insurance Guide
Is your bank FDIC insured?
FDIC insurance protects your deposits up to $250,000 per depositor, per insured bank, per ownership category — automatically and at no cost. Online banks like Ally carry the same protection as any brick-and-mortar bank.
Check a bank
Pick an institution we track to see its insurance status. Nothing you select is stored or sent.
Ally is FDIC-insured.
Deposits are protected up to $250,000 per depositor, per insured bank, per ownership category — automatically, at no cost to you.
Status reflects the institution registry SwitchWize maintains. Insurance status can change — always confirm the current FDIC certificate on the official directory before opening an account.
How FDIC coverage works
- $250,000 per depositor, per bank, per ownership category. A joint account is insured separately from individual accounts, so a couple can protect more than $250,000 at one bank.
- Coverage is automatic. You never apply or pay for it — opening an account at an FDIC member bank is enough.
- Above the limit? Spread deposits across multiple FDIC-insured banks, or hold the excess in Treasury instruments backed by the U.S. government. (See the emergency fund placement tool.)
- Credit unions use the NCUA. Same $250,000 level, different federal insurer — equally backed by the U.S. government.
Frequently asked questions
Is my bank FDIC insured?▾
Most U.S. banks — including major online banks like Ally, Marcus, SoFi, and Discover — are FDIC members. Confirm any bank's status using its FDIC certificate number on the FDIC BankFind directory at banks.data.fdic.gov. Credit unions are not FDIC-insured; they carry equivalent coverage through the NCUA instead.
Are online savings accounts safe?▾
Yes — an FDIC-insured online bank carries exactly the same federal deposit protection as a traditional bank: up to $250,000 per depositor, per insured bank, per ownership category. The delivery channel does not change the insurance. The only thing to verify is that the institution is itself FDIC-insured.
How much does FDIC insurance cover?▾
FDIC insurance covers up to $250,000 per depositor, per insured bank, for each ownership category. A married couple can protect well above $250,000 at a single bank using different ownership categories. Balances above the limit at one bank are not insured — spread them across banks or use U.S. Treasury instruments.
What happens to my money if my bank fails?▾
If an FDIC-insured bank fails, the FDIC reimburses insured deposits up to the $250,000 limit, typically within a few business days. No depositor has ever lost FDIC-insured funds since the FDIC was established in 1933. Coverage is automatic — you do not need to apply or pay for it.
This page provides general information, not financial advice. Insurance status reflects the institution registry SwitchWize maintains and can change — always confirm the current FDIC certificate on the official directory before opening an account.
Safe and high-yield
Ally's current savings rate
FDIC-insured · vs the field →
What it's costing you
Your loyalty tax
Big-bank gap calculator →
Above the limit?
Where to keep a large balance
Emergency fund placement →
Next step
Find a safe, high-yield home for your cash
Every bank SwitchWize ranks is FDIC-insured. Compare today's top rates — no sign-up required.
Compare high-yield savings accounts →