Quote:
Originally Posted by safari
As long as your deposit doesn't exceed $100K, your money is FDIC insured. If a bank goes bankrupt, you will have your money back within 1-2 weeks. I've had my money at Countrywide for about a year, and can recommend them. The rates and service have been outstanding.
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From what I have heard it is more like 1-2 days once the FDIC steps in.
Also, you really should not have more than $90K or so at one bank per SSN to cover the interest that has not yet been paid (this is according to Clark Howard).