My bank-broker is FDIC insured to 2.5 million
They do the multiple account deal so you don't have too.
That's who I use and that's why I use them.
The FDIC limit is $250,000.00 per account-except where noted as to ownership type. If there is insurance past that limit your bank is buying additional coverage. OR - they are taking excess amounts and depositing them in "partner banks" in different accounts.
The standard coverage limit is $250,000 per account owner, per each of the ownership categories we include in the table below.
That means you could technically qualify for more than $250,000 in coverage if you hold accounts in more than one ownership category, either as an individual or with a joint account holder.
For instance, a couple with a joint checking account that’s FDIC-insured can receive insurance for up to $500,000 for the same shared account ($250,000 per co-owner). And if each of you opens your own individual checking account separately (under the category of “single account”) it would also have its own $250,000 coverage on top of your joint checking’s $500,000 coverage.
You can also see that trusts, benefit plans and other accounts factor in whether there are beneficiaries, participants or custodians connected to them.
Here’s a breakdown of the
FDIC coverage broken up by type of account owner.
FDIC deposit insurance coverage limits
Type of account owner category | Coverage limit |
---|
Single accounts | $250,000 per owner |
Joint accounts | $250,000 per co-owner |
Certain retirement accounts | $250,000 per owner |
Revocable trusts | $250,000 per owner per unique beneficiary |
Corporation, partnership and unincorporated association | $250,000 per corporation, partnership or unincorporated association |
Irrevocable trusts | $250,000 per unique beneficiary that’s entitled to the account |
Employee benefit plans | $250,000 per plan participant that’s entitled to the account |
Government accounts | $250,000 per official custodian (more coverage may be available) |
When you open a deposit account, it's likely that it's FDIC-insured up to the standard $250,000. Here's what FDIC insurance is and how it works.
www.cnbc.com
www.fdic.gov