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I see, but what I know is that it's allowed to use multiple banks for the purpose of increasing the amount of money under FDIC insurance (which is more like $10
by xiphias2 7y ago
I see, but what I know is that it's allowed to use multiple banks for the purpose of increasing the amount of money under FDIC insurance (which is more like $100k/bank, not $10k/bank).
There are services that split your money between multiple banks just for this reason.
- sokoloff 7y agoFDIC deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. https://www.fdic.gov/deposit/covered/categories.html https://www.fdic.gov/deposit/covered/categories.html
- xiphias2 7y agoIn the U.S. yes, I'm from the EU though where there's a similar insurance (EDIS) which has a 100k EUR limit.