Deposit Age Title For Free

Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank?it's how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

Perhaps the most straightforward way to get another $250,000 insured is to open an account at a second FDIC member bank. If you're using accounts that earn interest at a bank with only FDIC insurance, be sure your deposits are low enough that your balance with interest will be within the $250,000 limit.

Insurance Limit Each co-owner of a joint account is insured up to $250,000 for the combined amount of his or her interests in all joint accounts at the same IDI. In determining a co-owner's interest in a joint account, the FDIC assumes each co-owner is an equal owner unless the IDI records clearly indicate otherwise.

In the long run, your cash loses its value and purchasing power. Another red flag that you have too much cash in your savings account is if you exceed the $250,000 limit set by the Federal Deposit Insurance Corporation (FDIC) ? obviously not a concern for the average saver.

Q: Can I have more than $250,000 of deposit insurance coverage at one FDIC-insured bank? A: Yes. The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled.

Any individual or entity that has more than $250,000 in deposits at an FDIC-insured bank should see to it that all monies are federally insured. It's not only diligent savers and high-net-worth individuals who might need extra FDIC coverage.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.