Paul Sanchez
Capital One is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency that insures balances of up to $250,000 across various consumer and business deposit accounts. FDIC insurance is included automatically for Capital One customers with deposit accounts, and the amount of coverage depends on the account's FDIC ownership category, such as single, joint, or trust accounts. The FDIC was established in the 1930s to maintain confidence in the banking system and protect customers' deposits in the event of bank failures.
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What You'll Learn
- Capital One is a member of the Federal Deposit Insurance Corporation (FDIC)
- FDIC insurance covers up to $250,000 per depositor, per ownership category
- Single, joint, and trust accounts are insured differently
- FDIC insurance is automatic for Capital One deposit accounts
- FDIC insurance covers Capital One's 360 Performance Savings accounts
Capital One is a member of the Federal Deposit Insurance Corporation (FDIC)
Capital One, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency. The FDIC was formed in the 1930s in response to the banking crashes that accompanied the Great Depression. It was designed to keep Americans confident in their banks and to provide safeguards for their money. The FDIC insures most American banks, making it responsible for trillions of dollars in deposits.
Just like individuals pay car insurance premiums, American banks pay premiums to the FDIC. The FDIC then uses this money, along with other federal funds, to repay customers if a bank fails. The FDIC insures balances up to $250,000 held in various types of consumer and business deposit accounts. Capital One customers don’t need to purchase or apply for FDIC insurance—coverage up to the FDIC’s limit is automatic whenever a deposit account is opened. Deposits in checking accounts, savings accounts, money market deposit accounts, and certificates of deposit are insured up to $250,000 per depositor, per insured bank, and per ownership type.
The amount of FDIC insurance coverage a customer may have depends on their account’s FDIC ownership category. For example, a single account is owned by one person with no beneficiaries, while a joint account is owned by two or more people with no beneficiaries. A revocable trust account with one owner naming three unique beneficiaries would be insured up to $750,000.
Additionally, Capital One deposit accounts are separately insured by the FDIC from any other Discover deposit accounts for a period of six months after the acquisition date of May 18, 2025. After this six-month period, Capital One deposit accounts will be counted with other Discover deposit accounts for determining deposit insurance coverage by the FDIC.
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FDIC insurance covers up to $250,000 per depositor, per ownership category
Capital One is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency. FDIC insurance covers deposits received at an insured bank, but does not cover investments, even if they were purchased at an insured bank. The standard maximum deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. This means that if you have deposits in different account categories at the same FDIC-insured bank, your insurance coverage may be more than $250,000, if all requirements are met.
The amount of FDIC insurance coverage you may have depends on your account's FDIC ownership category. FDIC ownership categories include single accounts, joint accounts, trust accounts, and business accounts. Single accounts are owned by one person with no beneficiaries. Joint accounts are owned by two or more people with no beneficiaries. Trust accounts are owned by one or more trustees on behalf of one or more beneficiaries. Business accounts are owned by a corporation, partnership, or unincorporated association, and are insured separately from the personal accounts of the owners or members.
If you have a single ownership account at an FDIC-insured bank, and you also have a joint ownership account with one or more people at the same bank, you will be insured for up to $250,000 for your single ownership account deposits and also insured separately for your ownership interest up to $250,000 for all of your joint ownership account deposits. Similarly, if you have a single ownership account in one FDIC-insured bank, and another single ownership account in a different FDIC-insured bank, you will be insured for up to $250,000 for each single account.
In the unlikely event of a bank failure, the FDIC acts quickly to ensure that all depositors get prompt access to their insured deposits. Since 1934, no depositor has lost a penny of their FDIC-insured funds. You can use the FDIC's online Electronic Deposit Insurance Estimator (EDIE) to calculate your specific insurance coverage amount.
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Single, joint, and trust accounts are insured differently
Capital One, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency that insures balances up to $250,000 held in various types of consumer and business deposit accounts. The amount of FDIC insurance coverage depends on the account's FDIC ownership category. Single, joint, and trust accounts are insured differently.
Single accounts are owned by one person with no beneficiaries and are insured up to $250,000 per owner. Joint accounts are owned by two or more people with no beneficiaries, and each co-owner is insured up to $250,000. For example, a joint account with two owners would be insured up to a total of $500,000.
Trust accounts are owned by one or more trustees on behalf of one or more beneficiaries. Revocable trust accounts are insured up to $250,000 for each unique eligible beneficiary named or identified in the revocable trust, subject to specific limitations and requirements. For instance, a revocable trust account with one owner naming three unique beneficiaries would be insured up to $750,000.
It's important to note that FDIC insurance coverage is automatic for Capital One customers with deposit accounts, and there is no need to purchase or apply for additional insurance.
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FDIC insurance is automatic for Capital One deposit accounts
Capital One, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency. The FDIC insures balances of up to $250,000 across various consumer and business deposit accounts. This includes checking accounts, savings accounts, money market deposit accounts, and certificates of deposit. The insurance limit may increase to $750,000 for revocable trust accounts with three unique beneficiaries.
FDIC insurance coverage for Capital One deposit accounts is automatic, and customers do not need to purchase or apply for additional insurance. This coverage is provided whenever a deposit account is opened, with no additional action required by the customer. The amount of FDIC insurance depends on the account's ownership category, such as single accounts, joint accounts, trust accounts, and business accounts.
For example, a single account owned by one person with no beneficiaries is insured up to $250,000. Similarly, joint accounts with two or more owners and no beneficiaries are also insured up to $250,000 per co-owner. Trust accounts, such as revocable trust accounts, are insured up to $250,000 per unique eligible beneficiary named in the trust. Business accounts held by corporations, partnerships, or unincorporated associations are also insured up to $250,000, separate from the personal accounts of the owners or members.
It is important to note that FDIC insurance coverage may vary depending on the acquisition of other financial institutions, such as Discover Bank. Capital One deposit accounts will remain separately insured from Discover deposit accounts for six months after the acquisition date. After this period, the FDIC insurance coverage will be determined by combining Capital One and Discover deposit accounts.
The FDIC provides tools to help customers calculate their insurance coverage and explore options for additional insurance if needed. Customers can refer to the FDIC website for more detailed information on ownership categories, coverage limits, and ways to maximize their insurance coverage.
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FDIC insurance covers Capital One's 360 Performance Savings accounts
Capital One, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency. The FDIC insures balances of up to $250,000 held in various types of consumer and business deposit accounts. This includes checking accounts, savings accounts, money market deposit accounts, and certificates of deposit. FDIC insurance is automatic for Capital One customers with deposit accounts, and there is no need to purchase additional insurance. The amount of coverage depends on the account's ownership category, such as single accounts, joint accounts, trust accounts, and business accounts.
In the context of Capital One's 360 Performance Savings accounts, these are indeed FDIC-insured up to the allowable limits. This means that if you have a 360 Performance Savings account with Capital One, your savings are protected up to $250,000. This insurance provides peace of mind and guarantees the safety of your deposits.
It is important to note that FDIC insurance only covers deposits and does not include investments like stocks, bonds, mutual funds, or other equities. Additionally, the insurance limit applies per depositor, per insured bank, and per ownership type. For example, a single account with one owner and no beneficiaries is insured up to $250,000, while a joint account with two or more owners and no beneficiaries is also insured up to $250,000 per co-owner.
The FDIC was formed in the 1930s in response to the banking crashes that occurred during the Great Depression. Its primary purpose is to maintain public confidence in the banking system and protect customers' deposits. By insuring deposits, the FDIC provides valuable protection for customers in the event of bank failure or other financial crises.
In summary, FDIC insurance does cover Capital One's 360 Performance Savings accounts, providing customers with security and assurance that their savings are protected up to the specified limits. This insurance is automatic and included as a standard feature of the savings accounts offered by Capital One.
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Frequently asked questions
Yes, Capital One is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency that insures balances of up to $250,000 held in various types of consumer and business deposit accounts.
FDIC insurance covers single accounts, joint accounts, revocable trust accounts, and business accounts.
FDIC insurance protects customers by insuring their bank deposits. Banks pay premiums to the FDIC, which uses this money along with other federal funds to repay customers if a bank fails.
