How Your Money Gets Insured
Easy to understand how you get more than $250K of FDIC Insurance:
the FDIC insures $250K per bank per tax ID.
the FDIC insures $250K per bank per tax ID.
$1 million
If you want to insure $1M, you will need to deposit $250K into 4 different banks.
$10 million
If you want to insure $10M, you will need to deposit $250K into 40 different banks.
$100 million
The FDIQ Program can offer up to $100M of FDIC insurance because hundreds of FDIC-insured banks participate.
4 banks needed
40 banks needed
Hundreds of banks needed
$1 million
If you want to insurance $1M, you will need to deposit $250K into 4 different banks.
4 banks needed
$10 million
If you want to insure $10M, you will need to deposit $250K into 40 different banks.
40 banks needed
$100 million
The FDIQ Program can offer up to $100M of FDIC insurance because hundreds of FDIC-insured banks participate.
Hundreds of banks needed