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It's per depositor per bank. If you have 10 accounts each with $100,000 at one bank, you are only covered for $100,000. (That may be what you said with "each
by seiji 18y ago
It's per depositor per bank. If you have 10 accounts each with $100,000 at one bank, you are only covered for $100,000.
(That may be what you said with "each bank's accounts," but the article is definitely mistaken).
- kevinelliott 18y agoI wrote a response above that clarifies this misconception. I've talked with a lot of people in person over the last 2 months about the FDIC insurance, and I'm surprised as how many people actually get this wrong. In any case, you are incorrect when you said my article was mistaken. I may not have described it clearly (read other response above for clarification), but it was not mistaken.