I mentioned in another comment, but there are account features where your money is deposited to N banks automatically. i.e. https://www.interactivebrokers.com/

I mentioned in another comment, but there are account features where your money is deposited to N banks automatically. i.e. https://www.interactivebrokers.com/en/accounts/sweep-program.php https://www.interactivebrokers.com/en/accounts/sweep-program... https://www.cnb.com/business-banking/accounts/savings/bank-deposit-sweep-program.html https://www.cnb.com/business-banking/accounts/savings/bank-d... https://www.wellsfargo.com/investing/cash-sweep/ https://www.wellsfargo.com/investing/cash-sweep/ Of course if those banks are depositing to the same 10 banks then you're really protected at 10x...but, well much better than 250k? I'm going to guess it's called a "Sweep Program" but I'm no finance expert. I know of this because it's common for brokerage account to do this - as very often, you'll have more than $250k in cash if you're doing active trading.