M.Y. Safra Bank | FDIC Insurance
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FDIC Insurance

FDIC Insurance
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Your deposits are protected at M.Y. Safra Bank

We understand that protecting your money is a top priority and we are here to help.

M.Y. Safra Bank is a financially strong and stable Bank. We have earned a 5-star rating from Bauer Financial.

In addition to the stability of M.Y. Safra, the FDIC insures your deposits up to $250,000 per depositor per ownership category, which is how your accounts are titled. Given the structure of FDIC insurance, you can have more than $2 million insured. Speak with a Banker today to better understand FDIC insurance coverage and your deposits.

Need protection beyond the FDIC limits? M.Y. Safra has resources available to further increase your deposit insurance. For more information, on enhanced insurance please contact us.

Frequently Asked Questions about FDIC:

Yes, your Banker would be happy to help you confirm your FDIC insurance coverage. You can get detailed information about your specific deposit insurance coverage by accessing the FDIC's Electronic Deposit Insurance Estimator(EDIE) edie.fdic.gov and entering information about your accounts. You can also visit the FDIC Information and Support Center to submit a request for deposit insurance coverage information or you can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342) and an FDIC deposit insurance specialist will help you calculate your deposit insurance coverage.


Basic FDIC Deposit Insurance Coverage Limits
Single Accounts (owned by one person) $250,000 per owner
Joint Accounts (two or more persons) $250,000 per co-owner
IRAs and certain other retirement accounts $250,000 per owner
Revocable Trust Accounts $250,000 per owner per beneficiary subject to specific limitations and requirements
Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership or unincorporated association
Employee Benefit Plan Accounts $250,000 for the non-contingent, ascertainable interest of each participant