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03-17-2023, 06:31 AM
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Sage
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Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 12,785
Thanks: 1,005
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Quote:
Originally Posted by midiwiz
I'll try to not be snarky on this one...... dificult but ok...
FDIC doesn't insure based on account holders it insures based on account/person relationship UP TO 250,000 meaning
John has 5 accounts, 1 checking and 4 savings "type" of accounts (MM, CD, etc) John has an ACCUMULATED balance of $325,000. John is only covered for $250,000 of that $325,000.
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Great job on not being snarky.
Bad job on answering the question.
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Identifying as Mr. Helpful
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