Your accounts are insured by FDIC for up to $100K in combined deposits. In other words, as long as your total combined balances of the checking and savings doesn't exceed $100K, you don't have to move money out of that bank.
If your total combined balances exceed $100K, I suggest you move enough money to fall within FDIC protected limits.
Hi, This from the FDIC website: Savings, checking and other deposit accounts, when combined, are generally insured to $100,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. Also, the FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) and Keoghs, insured up to $250,000. The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts.
The FDIC insures deposits only. It does not insure securities, mutual funds or similar types of investments that banks and thrift institutions may offer. (Insured and Uninsured Investments distinguishes between what is and is not protected by FDIC insurance.)
Wubee,
Your accounts are insured by FDIC for up to $100K in combined deposits. In other words, as long as your total combined balances of the checking and savings doesn't exceed $100K, you don't have to move money out of that bank.
If your total combined balances exceed $100K, I suggest you move enough money to fall within FDIC protected limits.
Wisdomtooth2020
Banker and Dave Ramsey disciple
Hi,
This from the FDIC website:
Savings, checking and other deposit accounts, when combined, are generally insured to $100,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. Also, the FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) and Keoghs, insured up to $250,000. The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts.
The FDIC insures deposits only. It does not insure securities, mutual funds or similar types of investments that banks and thrift institutions may offer. (Insured and Uninsured Investments distinguishes between what is and is not protected by FDIC insurance.)
Hope that helps,
Megan
Wamu is ok just got loses right now and trying to sell bonds Unless you got over a 100,000 in an account it is covered by the goverment.