We are aware of several fraudulent emails circulating purporting to be from the FDIC.  Subject lines include: “FDIC has officially named your bank a failed bank” and “FDIC Alert: you need to check your Bank Deposit Insurance Coverage.”

These e-mails and the associated Web site are fraudulent. Recipients should consider the intent of these e-mails as an attempt to collect personal or confidential information, some of which may be used to gain unauthorized access to on-line banking services or to conduct identity theft.

The FDIC does not issue unsolicited e-mails to consumers. Financial institutions and consumers should NOT follow the link in the fraudulent e-mail.

The FDIC has released a special alert confirming that these announcements are not from the FDIC.

The official FDIC website does contain useful information if you have questions about FDIC insurance; alternatively, we encourage you to contact your bank if you have questions about whether your deposited funds are insured.

You have the right to:

  1. Automatic deposit insurance coverage when you open a deposit account at an FDIC-insured bank, with no additional action on your part.
  2. Separate FDIC insurance coverage for deposits held at different FDIC-insured banks.
  3. Confirm that a bank is insured by using the FDIC’s Bank Find or by calling toll-free 1-877-ASK-FDIC.
  4. FDIC insurance coverage of at least $250,000 for your deposits at an FDIC-insured bank.*
  5. Deposit insurance coverage of more than $250,000 at a single bank when your deposits are held in different “ownership categories,” such as single, joint and trust accounts.*
  6. Confirm that your deposits are within the insurance limits by using EDIE The Estimator or by calling 1-877-ASK-FDIC.
  7. Be informed when a financial product offered by your bank is not covered by FDIC insurance.
  8. Prompt access to your insured deposits in the event your bank fails.
  9. Receive distributions from the receivership if you are an uninsured depositor, as the sale of assets permits.
  10. Sleep well, knowing that since the creation of the FDIC 75 years ago, no depositor has ever lost one penny of insured deposits.

* The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

FDIC Chairman Sheila Bair has also published a video explaining how deposit insurance works, and assuring consumers that insured deposits are 100% safe.