Yes, Chase savings accounts are FDIC insured up to $250,000 per depositor, per bank, per account category

Your money in a Chase savings account is protected by the Federal Deposit Insurance Corporation (FDIC), a government agency that guarantees deposits if the bank fails. This protection covers up to $250,000 in each account category you hold at Chase. The limit resets for each different type of account — so you can have $250,000 in a personal savings account and another $250,000 in a joint savings account at the same Chase branch, and both are fully covered.

FDIC insurance is automatic. You do not need to sign up, pay a fee, or do anything special. The moment you deposit money into a Chase savings account, that money is insured. This protection has been in place since 1933 and exists specifically so that if a bank closes, depositors do not lose their savings.

The $250,000 limit per account category is the key number to remember. If you have more than $250,000 in a single savings account at Chase, only $250,000 is covered by FDIC insurance. The amount above that is not protected if Chase were to fail — though Chase is a large, stable institution and bank failures are rare.

Key Takeaways

  • Chase savings accounts are covered by FDIC insurance up to $250,000 per depositor, per account category, with no action required on your part.
  • Each account type — personal savings, joint savings, retirement savings — has its own $250,000 limit, so you can hold multiple covered accounts at Chase simultaneously.
  • FDIC insurance protects your money if Chase fails, but does not protect against fraud, theft, or poor investment choices.
  • Money market accounts and certificates of deposit (CDs) at Chase are also FDIC insured under the same $250,000 per category limit.

How FDIC insurance works at Chase

The FDIC insures deposits at any bank that is a member of the FDIC system. Chase is a member bank, so all deposits in savings accounts, checking accounts, money market accounts, and CDs are covered. The insurance is backed by the full faith and credit of the U.S. government, meaning the FDIC has the authority to pay out claims if a bank closes.

When you open a Chase savings account, the FDIC automatically assigns your deposit to a coverage category based on the type of account and who owns it. A savings account in your name alone is one category. A joint savings account with your spouse is a separate category. A savings account held in trust for someone else is yet another category. Each category gets its own $250,000 limit.

The FDIC tracks your deposits across all Chase branches nationwide as a single account holder. If you have a savings account at a Chase branch in New York and another at a Chase branch in California, both are counted together toward your $250,000 limit in the personal savings category. The FDIC does not separate deposits by branch — only by bank and account type.

What is covered and what is not

FDIC insurance covers the balance in your account plus any interest that has been earned but not yet paid out. It covers savings accounts, checking accounts, money market accounts, and CDs at Chase. It does not cover investment products like stocks, bonds, mutual funds, or brokerage accounts, even if you hold them through Chase. Those are protected by a different system called SIPC (Securities Investor Protection Corporation), which has different limits and rules.

FDIC insurance also does not cover losses from fraud, theft, or your own mistakes. If someone steals your debit card and drains your account, FDIC insurance will not replace the money — though Chase's fraud protection policies may help you recover it. If you transfer money to a scammer, FDIC insurance does not cover that loss either. The insurance protects against bank failure only, not against crime or error.

Overdraft fees, penalties, and other charges are not covered by FDIC insurance, but they are also not what the insurance is designed to protect. FDIC insurance is specifically about the principal balance and accrued interest in your account if the bank closes.

Account categories and how they affect your coverage

The FDIC recognizes several account categories, and each one has its own $250,000 limit. Understanding which category your account falls into helps you know whether all your money is covered.

Single ownership accounts — savings accounts, checking accounts, and CDs in your name alone — are covered up to $250,000. Joint accounts — accounts owned by two or more people with equal rights — are covered up to $250,000 per co-owner. So if you and your spouse have a joint savings account with $300,000, the FDIC covers $250,000 for you and $250,000 for your spouse, for a total of $500,000 coverage on that one account.

Retirement accounts — IRAs, Roth IRAs, and other retirement savings accounts at Chase — are covered up to $250,000 per person, separate from your personal savings account limit. Trust accounts — accounts held in trust for a beneficiary — are covered up to $250,000 per beneficiary. If you hold a trust account for two different beneficiaries, each beneficiary gets $250,000 of coverage.

If you have more than $250,000 to keep safe at a bank, you can spread it across multiple account categories at Chase (a personal account, a joint account, and a retirement account, for example) to may support all of it is covered. You can also open accounts at different FDIC-member banks — each bank's coverage is separate.

What happens if Chase fails

If Chase were to fail, the FDIC would step in to protect your deposits. The FDIC does not take over the bank and keep it running. Instead, it either arranges for another bank to buy Chase's deposits and accounts, or it pays depositors directly from the FDIC insurance fund.

In most cases, the FDIC arranges a quick sale to another bank. Your account would be transferred to the new bank, and you would have access to your money within a few business days. You would not lose any of your covered deposits. The FDIC has a track record of moving quickly — in recent bank failures, depositors regained access to their money within one to three days.

If no bank buys the deposits, the FDIC pays you directly. You would receive a check or electronic transfer for up to $250,000 per account category. This process takes longer — usually a few weeks — but your covered money is still protected.

How to verify your coverage at Chase

You can check whether your Chase account is FDIC insured by visiting the FDIC's website and using their Electronic Deposit Insurance Estimator (EDIE) tool. You enter information about your Chase accounts — the type of account, the balance, and who owns it — and EDIE tells you exactly how much is covered.

Chase also provides FDIC insurance disclosures when you open an account. These disclosures explain the coverage limits and account categories. If you have questions about your specific accounts, you can call Chase customer service or visit a branch and ask to speak with someone about FDIC coverage.

The FDIC publishes a list of all member banks on its website. You can search for Chase by name to confirm it is an FDIC-insured institution. This is a straightforward way to verify that any Chase account you open will have FDIC protection.

Frequently Asked Questions

If I have $300,000 in a Chase savings account, how much is covered?

Only $250,000 is covered by FDIC insurance. The remaining $50,000 is not protected if Chase fails. To cover all $300,000, you could open a joint account with a spouse or family member (which gives you a separate $250,000 limit), or open an account at another FDIC-member bank.

Are Chase money market accounts and CDs also FDIC insured?

Yes. Chase money market accounts and certificates of deposit are both FDIC insured up to $250,000 per account category, just like savings accounts. Each type of account has its own category, so you could have $250,000 in a savings account and $250,000 in a CD at Chase, and both would be fully covered.

Is my Chase checking account FDIC insured?

Yes. Chase checking accounts are FDIC insured up to $250,000, and they are in a separate category from savings accounts. You can have $250,000 in a checking account and $250,000 in a savings account at Chase, and both are fully covered.

Does FDIC insurance cover money I lose to fraud or a scam?

No. FDIC insurance only protects against bank failure. If your account is hacked or you send money to a scammer, FDIC insurance does not cover that loss. However, Chase offers fraud protection and may help you recover money in some cases — contact Chase directly if this happens to you.

What if I have a Chase account in another person's name — am I covered?

If the account is in another person's name alone, you are not covered — only the account owner is. If you are a co-owner on a joint account, you are covered up to $250,000 for your share. If you hold an account in trust for someone else, that account is covered separately under the trust category.