Don_Dickle@lemmy.world to

No Stupid Questions@lemmy.world · 7 days ago

If a US bank only insures your money up to 250k does that mean I have to visit four different banks to have a million dollars insured?

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If a US bank only insures your money up to 250k does that mean I have to visit four different banks to have a million dollars insured?

Don_Dickle@lemmy.world to

No Stupid Questions@lemmy.world · 7 days ago

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7 days ago
Yep. People tend to think of the big 5-10 names that are on every corner, but the FDIC insures over 4,000 banks in the US.

PDF warning: https://www.fdic.gov/quarterly-banking-profile/fdic-latest-industry-trends-december-2024.pdf

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