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It's per account and can be doubled with a "payable on death" designee.
by dandandan 9y ago
It's per account and can be doubled with a "payable on death" designee.
- mysterypie 9y ago> It's per account I think you're mistaken about the first part of your statement: The FDIC says, "All single accounts owned by the same person at the same bank are added together and insured up to $250,000." (see https://www.fdic.gov/deposit/covered/categories.html https://www.fdic.gov/deposit/covered/categories.html ) But you are correct that it can be doubled, tripled, quadrupled, or even greater by opening different account types such as a Retirement Account, a Joint Account, a Revocable Trust Account, etc., at the same bank since each account type seems to get separate treatment (according to the same FDIC link).