4 ms·
FDIC only insures up to $250K
by mikesun 4y ago
FDIC only insures up to $250K
- johnbellone 4y agoPer account. Edit: It seems I am incorrect. > The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank.
- notyourday 4y ago> Per account. Per account "type" and structure. For DDAs if you are married it will be: You: $250k Your+your wife: $250k You POD your wife : $250k Your wife: $250k Your wife POD you: $250k
- jfim 4y agoWhat's POD in this context?
- htrp 4y agoPayable on Death...
- notyourday 4y agoWhat @htrp said - payable on death.
- ryan_j_naughton 4y agoDDAs?
- notyourday 4y agoDemand Deposit Account - the kind of account that allows for cleared funds to be withdrawn without advanced notice. Probably 99.999% of accounts such as checking and savings one can write checks/do ACH payments/send wires/transfer money from fall into this category.
- TMWNN 4y ago>The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category My understanding is that this might cause an unwelcome surprise to (for example) someone with a personal account at Bank A, and a sweep account at Brokerage P that sends its funds into accounts at Banks A, B, and C.