Chase savings accounts are covered by FDIC insurance up to $250,000 per depositor, per bank, per account category

Yes. Chase is an FDIC-insured bank, which means the Federal Deposit Insurance Corporation backs your deposits if the bank fails. The standard coverage limit is $250,000 per person, per bank, per account type. A savings account at Chase falls under this protection.

The $250,000 limit applies to the total you hold across all savings accounts at Chase under your own name. If you have a savings account and a money market account both registered to you alone, the FDIC counts them as separate account categories, so each gets its own $250,000 coverage. A joint savings account with another person gets a separate $250,000 limit as well, because the account category is different.

FDIC insurance covers the principal you deposited plus any interest earned up to the moment the bank is closed by regulators. It does not cover investment products like stocks, mutual funds, or brokerage accounts, even if you buy them through Chase.

Key Takeaways

  • Chase savings accounts are FDIC insured up to $250,000 per person, per account type.
  • Joint accounts, retirement accounts, and accounts held in trust each have their own separate $250,000 coverage limit.
  • FDIC insurance covers deposits and accrued interest but not stocks, bonds, or other investments held at Chase.
  • If your balance exceeds $250,000, the amount over the limit is not protected if Chase fails.
  • You can check your coverage using the FDIC's online calculator at fdic.gov to confirm your exact protection across all your accounts.

How FDIC coverage works at Chase

The FDIC insures deposits at member banks like Chase automatically — you do not need to sign up or pay a fee. Coverage begins the moment you deposit money. If Chase were to fail, the FDIC would reimburse you for covered deposits within a set timeframe, typically within a few business days, though the FDIC aims to return funds as quickly as possible.

The coverage is per depositor, per bank, per account category. This means if you have $200,000 in a Chase savings account under your name and $100,000 in a Chase money market account under your name, you have $300,000 total at Chase, but only $250,000 is covered in each category. The $50,000 over the limit in the money market account would not be protected.

If you hold accounts at multiple banks, each bank's coverage is separate. Money at Chase is covered up to $250,000; money at Bank of America is covered up to $250,000 at that bank; and so on.

Account categories that affect your coverage

FDIC coverage depends on how the account is registered. Each category has its own $250,000 limit:

  • Single-name accounts: Savings, checking, or money market accounts in your name alone.
  • Joint accounts: Accounts held with another person. The $250,000 limit applies to the account itself, not to each person.
  • Retirement accounts: IRAs, SEP-IRAs, and other retirement accounts registered at Chase get separate $250,000 coverage.
  • Trust accounts: Accounts held in a revocable living trust or other trust structure may have different coverage depending on the trust terms.
  • Accounts held for others: If you hold an account as a custodian for a minor or in a fiduciary capacity, coverage may differ.

A joint account with your spouse gets $250,000 of coverage as a joint account, separate from any individual accounts either of you holds. If you and your spouse each have $250,000 in individual savings accounts at Chase, and you also have a joint savings account with $250,000, all three are covered in full because they are three different account categories.

What FDIC insurance does not cover

FDIC insurance protects deposits — money you place in the bank. It does not protect investments. If you buy stocks, bonds, mutual funds, or exchange-traded funds through Chase or any other bank, those holdings are not FDIC insured. They may be protected under different rules (such as SIPC coverage for brokerage accounts), but FDIC insurance does not apply.

Safe deposit boxes are also not covered by FDIC insurance. The contents of a safe deposit box — jewelry, documents, cash stored inside — are not protected if the bank fails. Some items may be covered under your homeowner's or renter's insurance policy instead.

Cashier's checks, money orders, and traveler's checks issued by Chase are not FDIC insured either, though they are generally considered safe because they are backed by the bank's obligation to honor them.

What happens if your balance exceeds $250,000

If you have more than $250,000 in a single account category at Chase, the amount over $250,000 is not protected by FDIC insurance. For example, if you have $300,000 in a Chase savings account under your name, only $250,000 is covered. The remaining $50,000 would be at risk if Chase failed.

To protect balances over $250,000, you have several options. You can split the money across multiple banks — $250,000 at Chase, $250,000 at another FDIC-insured bank, and so on. You can also open different account categories at Chase: a savings account in your name, a joint savings account with a spouse, and a retirement account, each with separate $250,000 coverage. You can also place money in a trust account, which may have higher coverage limits depending on the trust structure.

Some people use a service called IntraFi (formerly Promontory Interbank Network) to spread deposits across multiple FDIC-insured banks while managing them through a single interface, though this is more common for very large balances.

How to verify your FDIC coverage at Chase

The FDIC provides a free online tool called the FDIC Coverage Calculator at fdic.gov. You enter information about your accounts — the type of account, how it is registered, the balance, and the bank — and the calculator shows you exactly how much is covered and how much is not.

You can also contact Chase directly to ask about your coverage. Chase customer service can tell you how your specific accounts are registered and confirm the coverage limits. Having this conversation is useful if you have accounts registered in different ways or if you are unsure whether an account is in your name alone or jointly.

The FDIC also publishes a guide called "Your Insured Deposits" that explains coverage in detail. You can download it from fdic.gov or request a copy from Chase.

FDIC insurance and account features

FDIC coverage does not change based on the interest rate, features, or type of savings account you choose at Chase. A high-yield savings account at Chase is covered the same way as a standard savings account — up to $250,000 per account category. The interest rate does not affect your protection, and neither do features like linked checking accounts or automatic transfers.

If Chase offers a promotional rate or bonus for opening a savings account, that does not change FDIC coverage. The coverage is automatic and the same regardless of the account's terms.

Frequently Asked Questions

If Chase fails, how long does it take to get my money back?

The FDIC aims to return insured deposits within a few business days. In practice, most depositors receive their funds within one to three business days after the bank is closed. The FDIC has a legal obligation to return funds as quickly as possible, and modern systems allow for faster processing than in the past.

Are my Chase credit card balances covered by FDIC insurance?

No. Credit card accounts are not deposits, so FDIC insurance does not apply. If you have a credit card balance at Chase and Chase fails, your balance would be handled through the bank's receivership process, not FDIC insurance. However, if you have a separate savings or checking account at Chase, that account is covered.

Does FDIC insurance cover overdraft fees or penalties?

No. FDIC insurance covers only the principal you deposited and interest earned. Fees, penalties, or other charges are not covered. If you overdraw your account and Chase charges a fee, that fee is not part of your insured balance.

If I have $250,000 in a Chase savings account and $250,000 in a Chase checking account, am I fully covered?

Yes. Savings accounts and checking accounts are different account categories, so each has its own $250,000 coverage limit. You would have $500,000 total protection across both accounts at Chase.

What if I move my money to a different bank — does FDIC coverage follow it?

No. FDIC coverage is tied to the bank where the money is held. If you move $200,000 from Chase to Bank of America, that $200,000 is no longer covered by Chase's FDIC insurance. It is now covered by Bank of America's FDIC insurance up to $250,000 at that bank. Coverage is per bank, not per person across all banks.