understanding your FDIC insurance coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. American Express National Bank is an FDIC-insured bank and your deposit is insured as long as it does not exceed the allowable coverage limit. Below you find information that can assist you in maximizing your FDIC coverage for your American Express® Personal Savings account(s).

FDIC insurance coverage
What is my coverage limit?

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

Depositors with American Express National Bank may qualify for coverage over $250,000 if they have accounts in different ownership categories (such as 'individual' and 'joint' accounts). 

You can further increase your FDIC coverage by adding beneficiaries to your account. In some circumstances, having six named beneficiaries could provide coverage of up to $1,500,000 on an account. To learn more about how beneficiaries can expand your coverage, please visit the calculator tool at FDIC.gov.

FDIC insurance coverage
Electronic Deposit Insurance Estimator EDIE
What funds are included in my coverage?

FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's closing.


FDIC tools are available to assist you to understand your current coverage. The 'Electronic Deposit Insurance Estimator' (EDIE) lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion (if any) exceeds coverage limits at that bank. EDIE also allows the user to print the report for their records. Link to EDIE tool.

Electronic Deposit Insurance Estimator EDIE
FDIC Coverage Example
FDIC Coverage Example

If a married couple spreads their deposits across multiple American Express Personal Savings accounts as both 'individual' and 'joint' owners, they can increase their FDIC coverage from up to $250,000 each to up to $1M between them. And they can increase their FDIC coverage further by naming beneficiaries to their account.  Learn more using the calculator at FDIC.gov.

Frequently Asked Questions

  • What is the FDIC?

    Funds deposited within American Express National Bank deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC) and are backed by the full faith and credit of the United States up to at least $250,000 per depositor.

    Coverage amounts vary based on factors such as account ownership, beneficiaries, and number of accounts with the same institution. For additional information, you may visit the FDIC website at www.fdic.gov or www.myfdicinsurance.gov.

  • What is the FDIC certificate number for American Express National Bank?

    The FDIC certificate number of American Express National Bank is 27471.

  • Does adding beneficiaries to my account change my FDIC insurance coverage?

    You can designate up to six individuals per account as beneficiaries who will each receive equal shares upon the acount holder's passing. Each beneficiary is eligible for up to $250,000 in FDIC coverage per account owner. By setting up beneficiaries on your account, you can increase your FDIC coverage. For example, joint account owners who qualify for $250,000 each in FDIC coverage would increase their coverage to $750,000 each if three beneficiaries are named to their Personal Savings account. You can calculate how adding beneficiaries to your deposit accounts and having accounts in different ownership categories will affect your FDIC coverage by visiting the FDIC's Electronic Deposit Insurance Estimator at FDIC.gov/edie.