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Originally Posted by Bleeding Head Ken  The FDIC insurance only covers $100,000 per depositor per bank. Your hypothetical depositor might have to work with several banks to be fully covered. |
Isn't that what I already stated? The spam of account statements would be from separate banks. There is a common misconception that FDIC insurance is applied per account, not per customer, at any one bank. Joint accounts between spouses (or qualified beneficiary) are covered up to $200,000 at one bank, however. Also qualified IRAs are covered up to $250,000. You can not keep all your eggs in one basket, and for the purposes of FDIC insurance, the basket is the bank, not individual accounts within that basket.