Back
Back
Back
Download our e-Treasury Secure Browser
Download the Sterling e-Treasury Token Client
creating vibrant communities
We invest in projects that provide opportunity.
Webster Bank seeks to create vibrant, resilient communities where people have access to housing and educational platforms, as well as community services, resources, and care. We invest in projects that give families and neighborhoods the opportunity to thrive.
The FDIC deposit insurance fully protects the deposits in each “ownership category.” Common ownership categories include individual accounts, joint accounts, and revocable trust accounts, such as “payable on death” or “in trust for” accounts. IRA’s are a separate ownership category and are covered up to $250,000 for each IRA account owner, increasing the FDIC deposit coverage.
For example, with careful planning a family of three may obtain deposit insurance coverage up to $2,500,000 on their accounts as follows:
| Ownership Category | FDIC Coverage | Ownership Examples |
|---|---|---|
| Individual Account | $250,000 | Wife |
| $250,000 | Husband | |
| $250,000 | Child | |
| Joint Account | $250,000 | Wife OR Husband |
| $250,000 | Wife OR Child | |
| $250,000 | Husband OR Child | |
| Revocable Trust Account (also known as POD) |
$250,000 | Wife in Trust for Husband |
| $250,000 | Husband in Trust for Wife | |
| $250,000 | Wife in Trust for Child | |
| $250,000 | Husband in Trust for Child |
Establishing accounts under different forms of account ownership may have significant tax or estate planning impacts. Review your plans with an attorney or qualified financial advisor.
Visit the FDIC’s official website to learn more plus try out their easy-to-use Electronic Deposit Insurance Estimator. You can also speak with an FDIC information specialist, Monday through Friday from 8:00am to 8:00pm EST by calling 877-275-3342 toll free.
Find a banking center or ATM
Contact us