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For example, if you have $150,000 in checking, $100,000 in savings and $50,000 in a money market account, then that’s a total of $300,000 at a single FDIC-insured financial institution.
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 ...
A money market account covered by FDIC insurance is protected up to $250,000 per depositor, per insured bank for each account ownership category, according to the FDIC.
If a person has money market accounts at two FDIC-insured banks, each account will be insured separately up to the established limit of $250,000 per depositor, per FDIC-insured bank, per ownership ...
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. [ 8 ] : 15 The FDIC was created by the Banking Act of 1933 , enacted during the Great Depression to restore trust in the American banking system.
While FDIC insurance protects your bank deposits up to $250,000, SIPC insurance safeguards your investment accounts differently. The Securities Investor Protection Corporation (SIPC) provides up ...
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