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How Are My Deposit Accounts Insured by the FDIC?
A deposit account owned by one person, without named beneficiaries - Coverage Limit: $250,000 per owner
A deposit account owned by two or more people, without named beneficiaries - Coverage Limit: $250,000 per co-owner
So - if you have 400,000 deposit account owned by two people - the full amount woudl be covered by FDIC.
Another option - see here
Q: Can I have more than $250,000 of deposit insurance coverage at one FDIC-insured bank?
A: Yes. The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank. For example, a revocable trust account (including living trusts and informal revocable trusts commonly referred to as payable on death (POD) accounts) with one owner naming three unique beneficiaries can be insured up to $750,000.
So - we may have different types of accounts within the same bank and increase total coverage. For instance 400,000 may be spread between a deposit account $250,000 and a revocable trust account $150,000 for a full coverage.
And finally - the standard deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category.That means - we may have several deposit accounts in different FDIC-insured banks where each account is not more than $250,000 per depositor.