Quote:
Originally Posted by metreon  Also, I want to clarify the FDIC insurance only covers $100,000 per customer within a particular bank, not per account. If you have more than $100,000 you have to distribute the surplus among several different banks, not just make several accounts within the same bank. Is it it realistic to expect that from people? |
The rule is generally $100,000 per depositor per bank. Hence, if one is married, each spouse can have a separate $100,000 account and be covered. In addition, one may qualify for more than $100,000 in coverage at a given bank if one owns deposit accounts in different ownership categories e.g., a joint bank account.
The FDIC's explanation can be found at:
FDIC: Insuring Your Deposits
Finally, on a side note, the incentive to hold accounts at several banks on account of FDIC's rules is not a bad one. Diversification e.g., holding accounts at multiple banks, can reduce one's risk exposure.