Electronic Deposit Insurance Estimator Is Useful Tool for Bank Depositors

by John Darer CLU ChFC MSSC CeFT RSP CLTC

What is EDIE the Estimator in Relation to Your Bank Deposit Accounts?

According to the information posted on the FDIC website,  EDIE the Estimator, is an FDIC online service that can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits so that you can plan accordingly.

The  EDIE the Estimator calculator includes the following disclaimer:

"EDIE is designed to give an accurate deposit insurance calculation, assuming it is properly used and the account information is correctly entered. However, the results and conclusions generated by EDIE are strictly advisory. All actual claims for deposit insurance shall be governed exclusively by information set forth in the FDIC-insured institution's records and applicable federal statutes and regulations then in effect.

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which permanently increased the standard maximum deposit insurance amount to $250,000. Previously, the standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution, for each account ownership category.  See Basic FDIC Insurance Coverage Permanently Increased to $250,000 Per Depositor

Last updated May 25, 2025