As per FDIC ( Federal Deposit Insurance Corporation ) guidelines with effect from January 1, 2013 all funds in a non-interest bearing transaction accounts will no longer be insured separately from depositors' other acounts with us. The aggregate balance insured up to atleast the Standard Maximum Deposit Insurance Amount (SMDIA) of $ 250,000 per depositor, will continue.
We do not pay interest in any Checking Accounts.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts ("IOLTAs").
For more information about temporary FDIC insurance coverage of transaction accounts, Visit www.fdic.gov
For the FDIC Electronic Deposit Insurance Estimator (EDIE) follow the link www.fdic.gov/edie/index.html