All funds in a "non-interest bearing transaction account" are insured by the Federal Deposit Insurance Corporation (FDIC) from December 31, 2010 through December 31, 2012. This temporary unlimited coverage is in addition to and seperate from the coverage of at least $250,000 available to depositors under the FDIC's general deposit rules.
The term "non-interest bearing transaction account" includes a traditional checking 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, and money market deposit accounts.
For more information about temporary FDIC insurance coverage on transaction accounts, visit www.fdic.gov.