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Even if you have all your money spread across different accounts (of the same category) at the same bank they all contribute to the $250k limit. It needs to be
by exegete 4y ago
Even if you have all your money spread across different accounts (of the same category) at the same bank they all contribute to the $250k limit. It needs to be spread across account categories and banks.
- Kye 4y agoThe FDIC has a resource on this that goes into more detail. https://www.fdic.gov/resources/deposit-insurance/brochures/insured-deposits/ https://www.fdic.gov/resources/deposit-insurance/brochures/i... For this in particular: >> "The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank. For example, if a person has a certificate of deposit at Bank A and has a certificate of deposit at Bank B, the amounts would each be insured separately up to $250,000. Funds deposited in separate branches of the same insured bank are not separately insured."