{"id":1704,"date":"2023-03-14T20:32:13","date_gmt":"2023-03-14T20:32:13","guid":{"rendered":"https:\/\/www.sprucemoney.com\/resource-center\/?p=1704"},"modified":"2025-03-29T00:33:50","modified_gmt":"2025-03-29T00:33:50","slug":"deposits-fdic-insurance","status":"publish","type":"post","link":"https:\/\/www.sprucemoney.com\/resource-center\/mobile-banking\/deposits-fdic-insurance\/","title":{"rendered":"Spruce deposits are FDIC insured: Find out how"},"content":{"rendered":"\n<p>You may have heard some talk about FDIC insurance but aren\u2019t quite sure what that means and how it relates to your Spruce and\/or Emerald Card accounts.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"240\" height=\"123\" src=\"https:\/\/www.sprucemoney.com\/resource-center\/wp-content\/uploads\/2023\/03\/FDIC-Spruce-thumbnail-small.jpg\" alt=\"\" class=\"wp-image-1708\"\/><\/figure>\n<\/div>\n\n\n<p><strong>Here\u2019s the good news:<\/strong> Your Spruce and Emerald Card accounts are FDIC insured through Pathward, N.A. Member FDIC., which means these accounts are insured by the Federal Reserve Bank up to $250,000, the maximum amount permitted by law.*<\/p>\n\n\n\n<p>Spruce is a mobile banking platform and app that includes the Spruce spending and savings accounts. Both Spruce and Emerald Card are bank products from Pathward, N.A. Member FDIC, and as such these accounts are FDIC insured up to the maximum amount allowed by law.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-fdic-insurance-exactly\">What is FDIC insurance exactly?<\/h2>\n\n\n\n<p>The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government. It protects you against the loss of your deposits in the event that an FDIC-insured bank or savings association fails. Additionally, FDIC insurance is backed by the full faith and credit of the U.S. Government. For more about the FDIC, check out the <a href=\"https:\/\/edie.fdic.gov\/fdic_info.html\">FDIC website\u2019s FAQs<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-if-i-have-more-than-one-account-at-an-fdic-insured-bank\">What if I have more than one account at an FDIC insured bank?<\/h2>\n\n\n\n<p>If you have other FDIC-insured accounts at the same bank (for example, Spruce and Emerald Card), you\u2019ll want to check on your overall coverage. To help calculate your FDIC insurance coverage, please use the FDIC Electronic Deposit Insurance Estimator available at <a href=\"https:\/\/edie.fdic.gov\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/edie.fdic.gov<\/a>.<\/p>\n\n\n\n<p>*Funds are insured by the FDIC on a pass-through basis, subject to applicable limitations, restrictions, and requirements for such FDIC pass-through insurance, when the funds are received in your account. FDIC insurance only protects when an FDIC-insured institution fails. Spruce and H&amp;R Block are not banks or FDIC-insured institutions, but Pathward\u00ae N.A. is an FDIC-insured depository institution.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You may have heard some talk about FDIC insurance but aren\u2019t quite sure what that means and how it relates\u2026<\/p>\n","protected":false},"author":1,"featured_media":1692,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-1704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile-banking"],"acf":[],"yoast_head":"<title>Spruce Deposits Are FDIC Insured | Spruce<\/title>\n<meta name=\"description\" content=\"Hearing talk about FDIC insurance? Find out how Spruce accounts are FDIC insured through Pathward, N.A. 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