Questions tagged [fdic]

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votes
2answers
66 views

Are intra-state and out-of-state online accounts insured by the FDIC?

Are intra state and out of state ONLINE savings/checking/CDs/money market accounts FDIC insured same as local brick & mortar bank accounts?
0
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0answers
102 views

How do the ultra rich protect their money? [duplicate]

FDIC insures each account up to $250,000. A few billion / 250,000 = way too many bank accounts. So how do the ultra rich insure their fortunes?
1
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1answer
114 views

Business Bank Account vs Personal Bank Account

What is the best practice when opening up a business bank account for a business that I anticipate to be worth more than $250,000. Does the FDIC insure amounts more than this for business accounts? Or ...
3
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2answers
687 views

Does FDIC insurance at one bank cover each account?

I was reading that FDIC insurance covers accounts up to $250,000. Does this mean each account you have at a bank is insured up to $250,000 or is $250,000 the maximum for all accounts at a bank? Also,...
5
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4answers
6k views

FDIC vs SIPC: Are they the same?

Before posting this question I did read Is SIPC coverage on cash as strong as FDIC?, but the answer did not seem to make much sense/lacked many answers to help clarify for me. I was doing some ...
1
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0answers
76 views

For deposit insurance limits, are accounts cross-collateralized?

The FDIC deposit insurance limit is $250,000 per depositor. Let's say I have $350,000 in my savings account and a loan with an outstanding principal of $200,000. The accounts are with the same bank. ...
5
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2answers
212 views

Is there such a thing as a non-FDIC savings account, which earns better interest?

I'm sticking to the question that I'm asking but here's the background. I make decent pay and I'm also self employed. I invest money in an IRA at my own discretion each month, so I'm covering my ...
6
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2answers
416 views

How do I protect money above the FDIC coverage limit?

Recently, I received an inheritance of $1.2 million. I'm planning on investing 1/4 of that in properties. With that being said, I'm still way above the FDIC coverage. Besides investing, what else ...
5
votes
1answer
268 views

MM account disappeared after NetBank failure. How to recover funds?

First-time poster. :O) In 2002 I opened and funded an online-only account with NetBank; the terms of the promotion required funds remain untouched for an extended period. Once the account was funded ...
6
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4answers
877 views

Is it possible to get a 3% yield that is FDIC insured or super low risk?

I just graduated from college and i am already planning my retirement. I know about 401k and i have that figured out already but in terms of money sitting in my bank account post retirement, assuming ...
1
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4answers
222 views

How can I ensure that a CD sold by a brokerage is FDIC protected?

I was told by my broker that the amount of money I invest would be spread across multiple banks (which are FDIC insured) so that at each bank the amount would not exceed $250K. Is this how CDs offered ...
15
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5answers
38k views

I have more than $250,000 in a US Bank account… mistake?

I'm currently carrying a balance of $356,000 in one bank account, which is in excess of the FDIC insured maximum of $250,000. I owe $100,000 in 2014 taxes (which will be paid by April), and the ...
8
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1answer
4k views

Is SIPC coverage on cash as strong as FDIC?

I'm considering opening a brokerage account with a broker that is requesting $10,000 minimum funding. That money will not go to an FDIC covered bank account. But the broker does have an SIPC insurance....
36
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7answers
159k views

How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?

I am curious how a millionaire would guarantee the safety of his money, given that the FDIC only insures up to $250K of an individual's deposits at a bank. If someone had $3 million that they wanted ...
2
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1answer
289 views

How does the FDIC know how much to insure trust accounts?

This page shows FDIC insurance on trust accounts is subject to the number of beneficiaries. Yet a bank will open a trust account given only the number of trustees, not the number of beneficiaries. ...
3
votes
1answer
233 views

Are interest bearing checking accounts (rewards checking) covered by FDIC?

I see a lot of banks offering rewards checking accounts (maintain the account in an active status by doing x transactions/month,direct deposit, paper less statements etc, in return you yearn high apy. ...
6
votes
1answer
298 views

How does the FDIC in the United States work?

Issues in my head raised by the quesion about withdrawing money from a bank before it goes under If the purpose of the FDIC in the United States system is to insure deposits, how is the money the ...
4
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6answers
869 views

Would you withdraw your money from your bank if you thought it was going under? [closed]

The Texas Ratio attempts to measure how well a bank can cover its losses on nonperforming loans. A ratio over 100 indicates the bank is in trouble. I cross referenced the texas ratio for banks ...