Author: valeria Popa
Valeria Popa is a fintech and financial services freelance writer. She has experience writing articles, blog posts, and case studies for UK and US audiences. Valeria has built her expertise with an MSc with a distinction in Economics and Finance from the University of Leeds and an MSc with merit in Media and Communications from the LSE. Check out her portfolio here.
If you have a standard bank account at a traditional U.S. bank, your money is automatically insured by the FDIC. So, when should you check if your money is insured? If you have large balances, use credit unions or store funds in non-bank financial apps. Key Insights Up to $250,000 per depositor, per institution, and per ownership category is covered automatically at FDIC-insured banks and NCUA credit unions — no enrollment or fee required. Trust accounts have already moved to a flat $1,250,000 cap at FDIC-insured banks since April 2024, and NCUA credit unions will have the same cap from…