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Individual depositors are insured up to $250,000 per each ownership category, per FDIC-insured bank. If an account holder has more than $250,000 in accounts that fall under a single ownership ...
When it comes to trusts and other accounts with beneficiaries, each account is insured up to $250,000 per eligible beneficiary, with a cap of $1.25 million for accounts with five or more ...
Under the old FDIC rules, each beneficiary of the trust would get $250,000 in insurance protection. So, for example, if the trust named 10 beneficiaries, then that account would be insured for $2. ...
Accounts at different banks are insured separately. All branches of a bank are considered to form a single bank. Also, an Internet bank that is part of a brick and mortar bank is not considered to be a separate bank, even if the name differs. Non-US citizens are also covered by FDIC insurance as long as their deposits are in a domestic office ...
Money market accounts, on the other hand, are traditional, interest-earning deposit products that are federally insured as long as they are deposited at an FDIC-insured institution. They are ...
The standard insurance coverage is currently $250,000 per owner or depositor for single accounts or $250,000 per co-owner for joint accounts. [7] [8] Some institutions use a private insurance company instead of, or in addition to, the federally backed FDIC or NCUA deposit insurance.