2 ms·
FDIC insurance is by account, not individual.
by deelowe 3y ago
FDIC insurance is by account, not individual.
- toomuchtodo 3y agoMy point was that this is somewhat of new and exotic product, and interested parties should be mindful to ensure their exposure does not exceed insurance limits. While you might find a way to buy more of this CD than the bank permits through their limits, that doesn't necessarily mean you should. https://www.fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance/ https://www.fdic.gov/resources/deposit-insurance/brochures/d... > The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. > The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for coverage over $250,000 if they have funds in different ownership categories and all FDIC requirements are met. > All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount.