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NOTE: Banks have a maximum of $250k in insured deposits
by outside1234 4y ago
NOTE: Banks have a maximum of $250k in insured deposits
- O__________O 4y agoRelated prior discussion on topic on HN: How to Insure Your Money When You’re Banking over $250K (2022) - https://news.ycombinator.com/item?id=35109420 https://news.ycombinator.com/item?id=35109420
- leetrout 4y agoPer person per account type. Joint accounts are covered at 500k When a revocable trust owner names five or fewer beneficiaries, the owner's trust deposits are insured up to $250,000 for each unique beneficiary So 4 people = $1m https://www.fdic.gov/resources/deposit-insurance/brochures/insured-deposits/ https://www.fdic.gov/resources/deposit-insurance/brochures/i...
- O__________O 4y ago* Per unique FDIC institution, of which there 3000-5000 of them, many of which offer financial services that break deposit down into FDIC insured amounts via institutions the are legally separated per FDIC’s definition, but treated as a single account for transactions. See post related post that covers this, additional options, and HN user comments here: - https://news.ycombinator.com/item?id=35109420 https://news.ycombinator.com/item?id=35109420