I’ve acquired a great deal of questions about FDIC insurance recently (for apparent reasons) and have been getting a good talk about via e-mail as well. Will multiple accounts at the same bank or investment company, like having both a cost savings and checking account, increase my coverage limitations? Depends. It’s how the account possession is titled that counts.

100,000 per individual at that bank or investment company, no matter how many accounts you open up. To obtain additional coverage, you could start a merchant account at another bank or investment company. However, if you open up a joint account with another person that can boost your limits. Just how much FDIC coverage can a couple get at one bank or investment company?

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400,000 at a unitary bank without involving legal trust vehicles. Are business bank or investment company accounts included in FDIC insurance? Yes, nevertheless, you need to be careful. Since legally there is absolutely no difference between a singular proprietorship and an individual, one cannot gain more coverage at a single bank by starting a “business” accounts if you are a lone proprietorship.

100,000 provided the corporation, partnership or unincorporated association is involved in an “independent activity.” The word indie activity means that the entity is managed primarily for some purpose other than to increase deposit insurance plan. 1,000,000 in cash if you had to? Spread across 10 banking institutions (or more to protect accrued interest)?

1,000,000 sitting down around in cash. I’d probably choose to take more risk with it. Most likely, I would place it in a retail money market fund at a reputable firm, like the Vanguard Prime Money Market Fund. That way, even if Vanguard goes bankrupt, this won’t affect the fundamental conservative investments.

A retail money market fund has never “broken the buck”. Alternatively, I would buy traditional US Treasury Bonds or TIPS either or through a Treasury money market fund directly. What about the Certificate of Deposit Account Registry Service (CDARS)? 100k chunks across a network of banks, but with no effort on your part.

100,000 per customer per lender. So, you could run around to numerous establishments to deposit your money to get the same coverage you get using CDARS. Or you can place your large-dollar deposit with a network member. The member bank or investment company breaks your funds into smaller amounts and places them with other banks that are users of a special network.