Understanding Capital One’s FDIC Insurance

When it comes to choosing a bank, one of the most important factors to consider is the safety of your money. This is where the Federal Deposit Insurance Corporation (FDIC) comes in. The FDIC is an independent agency of the United States government that protects depositors against the loss of their insured deposits if an FDIC-insured bank fails. In this article, we will take a closer look at Capital One’s FDIC insurance and what it means for your savings.

What is FDIC Insurance?

FDIC insurance is a government-backed program that protects depositors against the loss of their insured deposits if an FDIC-insured bank fails. The FDIC insures deposits up to $250,000 per depositor, per insured bank, for each account ownership category. This means that if you have multiple accounts with the same bank, they may be insured separately if they fall under different ownership categories.

Is Capital One FDIC Insured?

Capital One bank

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Yes, Capital One is FDIC insured. This means that your deposits with Capital One are protected up to $250,000 per depositor, per insured bank, for each account ownership category. This includes checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs). It is important to note that not all products offered by Capital One are FDIC insured. For example, investments in mutual funds, annuities, and stocks are not insured by the FDIC.

Capital One Savings Accounts

Capital One offers a variety of savings accounts, including the 360 Performance Savings account and the Kids Savings account. Both of these accounts are FDIC insured, meaning your money is protected up to $250,000 per depositor, per insured bank, for each account ownership category. These accounts also offer competitive interest rates, making them a great option for those looking to save money.

Capital One Bank

Capital One is a bank holding company that offers a wide range of financial products and services, including credit cards, loans, and savings accounts. As mentioned earlier, not all products offered by Capital One are FDIC insured. It is important to check with the bank to determine which products are insured and which are not.

How to Check if Your Deposits are FDIC Insured

If you are unsure whether your deposits with Capital One are FDIC insured, you can use the FDIC’s BankFind tool. This tool allows you to search for FDIC-insured banks and determine if your deposits are protected. You can also contact Capital One directly to inquire about the FDIC insurance status of your accounts.

In Conclusion

FDIC insurance is an important factor to consider when choosing a bank. It provides peace of mind knowing that your deposits are protected in the event of a bank failure. As a depositor with Capital One, you can rest assured that your money is FDIC insured up to $250,000 per depositor, per insured bank, for each account ownership category. However, it is important to note that not all products offered by Capital One are FDIC insured, so be sure to check with the bank before opening any new accounts.

Have any questions about Capital One’s FDIC insurance? Let us know in the comments below.