Maximize your FDIC insurance
The Federal Deposit Insurance Corporation (FDIC) will insure up to $250,000 per depositor, per insured bank. Ally Bank is FDIC-insured.
Make the most of FDIC insurance with a few tips from us
Know the facts. With a combination of accounts, you could be covered for more than $250,000.
Here's a simple example of how one couple could be insured up to $2 million:
| Account Nickname | Owner(s) | Beneficiary | Amount |
|---|---|---|---|
| Single Accounts | |||
| John's Interest Checking | John Doe | None | $250,000 |
| Mary's No Penalty CD | Mary Doe | None | $250,000 |
| Joint Accounts | |||
| John and Mary's Online Savings | John and Mary Doe | None | $500,000 |
| Retirement Accounts | |||
| John's Traditional IRA | John Doe | None | $250,000 |
| Mary's Roth IRA | Mary Doe | None | $250,000 |
| Revocable Trust Accounts | |||
| John's Raise Your Rate CD - Trust | John Doe | Mary Doe | $250,000 |
| Mary's High Yield CD - Trust | Mary Doe | John Doe | $250,000 |
| FDIC Insured Total: | $2,000,000 | ||
Instantly calculate your coverage
Have a family of 3 or 4, or just looking to estimate how much of your money is insured by the FDIC? Get instant insight. Try EDIE the Estimator, created by the FDIC.
Get a fresh perspective on how to protect your money with Ally Bank
- Consider single-name accounts for each family member. Mom, Dad, and the college student can each have a single-name account insured to $250,000 — for a total of $750,000.
- Pool your money into multiple owner accounts. See how
- Set up an account in a child's name. If permitted in your state, the Uniform Gift to Minors Act (or Uniform Transfer to Minors Act) insures accounts as single-name accounts under the minor's name, not the parent's or custodian's.
- Consider trust accounts. Revocable trusts allow coverage for beneficiaries. Five or fewer beneficiaries could be insured for a total of $1,250,000. See more examples
