FDIC Insurance

At Synchrony Bank, all our accounts bring you the peace of mind that comes with the protection of FDIC insurance – up to $250,000 per depositor, per insured bank, for each ownership category

Your FDIC coverage MAXIMIZED

Separate FDIC Insurance for different ownership categories maximizes your coverage.

Single Accounts: A single account is owned by one person, and all of that person's single accounts at a bank will be added together and insured up to $250,000.
Joint Owners: A joint account is owned and accessible by two or more people, and each person’s share of their jointly owned accounts are added together and insured up to $250,000 per joint owner.
Retirement Accounts: Traditional and Roth Individual Retirement Accounts (IRAs) are owned by one person but insured separately from single accounts, and all of that person's retirement accounts at a bank will be added together and insured up to $250,000.
Trust Accounts: Trust Accounts are generally insured based on the number of qualifying beneficiaries, and all of the trust’s accounts at a bank will be added together and insured up to $250,000 for each qualifying beneficiary.

Here is an example of how you can enhance your FDIC protection with Synchrony Bank

Meet Phil and Phyllis, their 21-year-old son, Phil, Jr. and 18-year-old daughter, Philomena. See this illustrative example of how a family can structure their accounts to maximize their FDIC protection.

Account Ownership	Account Type	Account Owners	Beneficiary	FDIC Insured Amount
Single	High Yield Savings Account	Phil	n/a	Up to $250,000
Single	12-month Certificate of Deposit	Phillys	n/a	Up to $250,000
Single	18-month Certificate of Deposit	Phil Jr.	n/a	Up to $250,000
Single	High Yield Savings Account	Philomena	n/a	Up to $250,000
Joint	Money Market Account	Phill & Phyllis	n/a	Up to $500,000
Qualifying Retirement Account	Traditional IRA	Phil	n/a	Up to $250,000
Qualifying Retirement Account	Roth IRA	Phillys	n/a	Up to $250,000
Trust Account	Revocable Trust	Phil	Phil Jr. & Philomena	Up to $500,000
			Total FDIC Coverage	Up to $2,500,000

Additional tools

There are a variety of additional scenarios that you may wish to explore when it comes to protecting your money. The FDIC has a handy tool – EDIE The Estimator – accessible at www.fdic.gov/edie that can help get you started.