In loose, nearly all banks carry FDIC insurance for their depositors. However, there are two limitations with that coverage. The primary is that only depository accounts, such as checking, savings, bank money market accounts and CDs are covered. The B is that FDIC insurance is limited to $250,000 per depositor, per bank. That means that if you have $500,000 outliving in one bank, only half of the money would be insured. The way to get around this limitation is to spread your money across more than one bank. If you attired in b be committed to $500,000 that you want held in a bank account, you can put $250,000 in one bank and $250,000 in another bank. Just commemorate that they need to be completely unrelated banks. The coverage is not segregated by branches within the same banking origination.
Jeff Rose
Alliance Wealth Management
Carbondale, IL