Comments on: FDIC Insurance Deposit Limits: What You Should Know

By: Robert Farrington

Robert Farrington — Mon, 01 Jun 2020 21:24:41 +0000

In reply to Devra. If it's a revocable trust, yes. You and partner - $250k each. Each beneficiary - $250k each. There are some guidelines on account naming and trust requirements. See the FDIC guide here.

By: Devra

Devra — Mon, 01 Jun 2020 19:19:28 +0000

My partner and I have an account w 540000 in it. Our banker said that because there are two of us on the acct and we have two named beneficiaries we are covered up to a million by FDIC. Is this correct?

By: Robert Farrington

Robert Farrington — Thu, 19 Mar 2020 15:50:59 +0000

In reply to Marilyn Perkowski.

During the Great Recession (from 2008 to 2015), more than 500 banks failed in the United States. But individuals didn’t have any issues – their funds moved to a financially sound bank or the FDIC stepped in.

The same thing would happen today. Could all banks fail? No. Plus, the reforms since the Great Recession have significantly increased the amount of reserves banks are required to have. And the government would step in at the end of the day.

By: Marilyn Perkowski

Marilyn Perkowski — Thu, 19 Mar 2020 01:58:40 +0000

The coronavirus pandemic has caused a financial meltdown that few have experienced. With some suggesting it is similar to the great depression, is it possible for all banks to fail? Then what?

By: Robert Farrington

Robert Farrington — Thu, 12 Sep 2019 20:34:35 +0000

In reply to Anthony. Yes, Certificates of Deposit from US Banks and Credit Unions fall under FDIC insurance rules.