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The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. Additional Notice for Sweep Account Customers: Funds that have been swept from a noninterest-bearing transaction account to an interest-bearing deposit account will not be eligible for this unlimited coverage for noninterest-bearing transaction accounts. |
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