4 ms·
Per account type, per person, per institution. So separate checking and savings are insured for $250K each.
by koolba 4y ago
Per account type, per person, per institution.
So separate checking and savings are insured for $250K each.
- auntienomen 4y agoNO! Checking and savings accounts are NOT separately insured! The FDIC is $250k per bank, per depositor and per ownership category. Ownership category = single account / joint account / trust account / mortgage escrow account/ (10 more obscure categories). As a regular person, you get $250k for your checking and savings together, and your spouse gets $250k for theirs, and then you get another $250k for jointly owned accounts.
- koolba 4y agoOh crap you’re right. I was mixing up tenancy and type.