BMO Harris Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means your deposits at BMO Harris are automatically insured up to the standard limit of $250,000 per depositor, per insured bank, for each account ownership category.

The FDIC insurance coverage applies to a wide range of deposit accounts at BMO Harris, including checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs).

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Even if BMO Harris Bank were to fail, the FDIC would step in to protect your insured deposits and ensure you can access your funds, up to the coverage limits.

The FDIC insurance is backed by the full faith and credit of the U.S.

government, making it one of the most secure forms of deposit protection available to consumers.

To qualify for FDIC insurance, your accounts at BMO Harris must be titled and held in a way that meets the FDIC's requirements, such as individual accounts, joint accounts, or certain retirement accounts.

The FDIC regularly examines BMO Harris Bank to ensure it is adhering to banking regulations and maintaining the safety and soundness of the institution.

FDIC insurance does not cover other financial products offered by BMO Harris, such as investments, annuities, or life insurance policies.

In the event of a bank failure, the FDIC has the authority to pay out insured deposits within a few business days, allowing customers quick access to their protected funds.

The FDIC insurance limit of $250,000 per depositor, per insured bank, per account ownership category, is adjusted periodically to account for inflation.

Customers can easily verify BMO Harris Bank's FDIC membership and coverage by checking the FDIC's online database or contacting the bank directly.

The FDIC insurance applies to both personal and business accounts held at BMO Harris, providing an additional layer of security for commercial customers.

In the unlikely event that your FDIC-insured deposits at BMO Harris exceed the $250,000 coverage limit, you may be able to explore additional options, such as spreading your funds across multiple insured banks.