Consumers often seek help from their bank or the FDIC with questions relating to their bank accounts.
Do I have to provide personal information if I use the FDIC’s online deposit insurance calculator to find out if my deposits are fully covered?
“No. ‘EDIE,’ the FDIC’s Electronic Deposit Insurance Estimator, does not need personal identification information such as your actual name, Social Security number or account number,” said Martin Becker, Chief of the FDIC’s Deposit Insurance Section. “EDIE is a site that can help you confidentially calculate your deposit insurance coverage.”
For an accurate analysis of your insurance coverage, though, you will need to list account owners or beneficiaries, but you can type in aliases like Jane Doe or Child #1. Also enter information such as the type of account and the dollar amount to reflect your bank accounts correctly. You can use hypothetical amounts if you want to explore opening new accounts or adding to existing account balances. And when you’re done, EDIE doesn’t store any of the details you key in, nor can it track users.
To use EDIE, go to www.fdic.gov/edie. You can speak with an expert to discuss your FDIC deposit insurance coverage by calling 1-877-ASK-FDIC (1-877-275-3342).
You can also talk to a Union State Bank personal banker to discuss the best way to title your accounts to ensure that you do not exceed FDIC insurance coverage. Each accountholder is insured to $250,000.