How does the guarantee on noninterest-bearing transaction deposit accounts affect a customers insurance coverage for other types of accounts?
The insurance coverage on noninterest-bearing transaction deposit accounts is over and above the $250,000 in coverage provided to a customer already. For example, if a customer has $500,000 in a noninterest-bearing transaction deposit account and $250,000 in a certificate of deposit, the FDIC would fully insure the entire $750,000. Does the full deposit insurance coverage for non-interest bearing deposit transaction accounts cover all such accounts in the bank regardless of ownership? For example does it include municipal or government deposits? Yes.
Related Questions
- What is the difference between basic FDIC deposit insurance coverage and the unlimited coverage available in the Transaction Account Guarantee Program?
- How does the guarantee on non-interest-bearing transaction deposit accounts affect a customers insurance coverage for other types of accounts?
- How does the guarantee on noninterest-bearing transaction deposit accounts affect a customers insurance coverage for other types of accounts?
