Quote:
Originally Posted by laboutj
The $250K limit is per customer, not account. If you have $1MM, split it over 4 different financial institutions.
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It is per customer if all of your accounts are named exactly the same way. But, you can have several accounts that are named differently. For example, a husband and wife can have two separate individual accounts and a joint account, and get $1 million of FDIC insurance. You can also have an IRA account that adds another $250K for the husband and also for the wife. And, you can have an individual account with no beneficiary, and another individual account with a named beneficiary and both accounts will have $250K of insurance. There is almost no limit to the amount of FDIC insurance you can get from a single bank, if you structure them correctly.