What happens to my money if my bank suddenly goes out of business?

If your bank fails, you **may not lose your savings**: many countries protect eligible bank deposits through a government-backed deposit-insurance scheme. The protection is usually limited to a set amount **per person, per bank or banking group, and account-ownership category**. Any balance above the limit may be delayed or only partly recovered through the bank’s insolvency process.

The rules depend on where you live. For example, in the U.S., FDIC insurance generally covers up to **$250,000 per depositor, per insured bank, per ownership category**. Other countries have different limits and eligibility rules. Coverage typically applies to deposits such as checking and savings accounts, but not necessarily to investments, shares, bonds, or money held with an unlicensed provider.

To check your protection:

- Confirm your bank is covered by your country’s deposit-insurance scheme.
- Check the scheme’s limit and which accounts count toward it.
- If you have more than the limit, consider spreading deposits across separately insured banks or eligible ownership categories.

If you tell me your country, I can give you the specific protection rules that apply.