How can Folio Institutionals program offer such a high level of FDIC insurance coverage?
We automatically distribute your cash deposits for you across many, many different banks — each one of which insures up to $250,000 of cash deposited. By doing so your cash is spread across and deposited in many banks and each deposit in each bank is FDIC insured to $250,000. When we add more banks to our program, we increase the amount of FDIC insurance available to you automatically. You should know that the insurance applies to each separate account registration — so joint accounts with two owners receive insurance up to $500,000 per bank, or in our program $8 million total.
