Capital One Bank is a member of the Federal Deposit Insurance Corporation (FDIC), and one of our main goals is to provide a top-notch banking experience to help you manage your finances. We constantly monitor updates and changes in legislation and FDIC coverage, and share those with our bankers and our customers as soon as they occur.
The FDIC is an independent agency of the United States government that protects your deposits in the event that an FDIC insured bank fails. The FDIC insures balances held in various types of consumer and business deposit accounts.
Deposits in checking, savings, money market and certificate of deposit accounts are insured up to $250,000 per depositor, per ownership type. It's possible to qualify for more than $250,000 in FDIC coverage if you have deposit accounts in different ownership categories such as Single Accounts, Joint Accounts, Individual Retirement Accounts, and Trust Accounts. Additionally, business account deposits are insured—also up to $250,000—separately from the personal accounts of the entity's stockholders, partners, or members.
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.