FDIC bank deposit rules just changed. Here’s what savers need to know [Video]

If you have more than $250,000 in deposits at a bank, you may want to check that all of your money is insured by the federal government.

The Federal Insurance Deposit Corporation, or FDIC, implemented new requirements for deposit insurance for trust accounts starting April 1.

While the FDIC’s move is intended to make insurance coverage rules for trust accounts simpler, it may push some depositors over FDIC limits, according to Ken Tumin, founder of DepositAccounts and senior industry analyst at LendingTree.

The FDIC is an independent government agency that was created by Congress following the Great Depression to help restore confidence in U.S. banks.

FDIC insurance generally covers $250,000 per depositor, per bank, in each account ownership category.

If you have $250,000 or less …