I have multiple accounts worth more than $250,000 in deposits at one financial institution, how much insurance coverage do I have?
For customers with accounts in multiple categories at a single financial institution, FDIC coverage is based on the titling of the accounts and the category of accounts, not the number of accounts. For example, if you own a checking account and a CD titled in your own name as a single owner, you will receive a total of $250,0001 of combined coverage for both accounts. But if you also have a joint account (which is a separate owernship category from individual accounts), you could receive an additional $250,0001 of insurance for the funds held in the joint account. And, for the peace of mind that comes with additional FDIC insurance up to $50 million, our CDARS® CDs are a great option. Learn more.
Related Questions
- Can insurance coverage be increased by dividing my deposits into several different accounts at the same federally insured credit union?
- I have multiple accounts worth more than $250,000 in deposits at one financial institution, how much insurance coverage do I have?
- Can insurance coverage be increased by dividing my deposits into several different accounts at the same insured bank?
