Quote:
Originally Posted by jIM_Ohio
My banker told me he would put each 100k CD in "another branch" as the FDIC limit is per branch, not per bank (I still need to confirm this).
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Jim, this is definitely NOT true.
From fdic.gov:
The basic insurance amount is $250,000 per depositor, per insured bank.
The $250,000 amount applies to all depositors of an insured bank.
Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank.