050311 5/3 Bank

[masterdinar]

With regards to living trusts is that FDIC insurance coverage is based upon the number of named beneficiaries of the trust and is not limited by the number of trust owners.

Therefore, under the new FDIC rules, a trust account owner with up to five different beneficiaries named in all of his or her revocable trust accounts at one FDIC-insured institution will have FDIC insurance up to $250,000 per beneficiary. In other words, if your revocable trust(s) names five beneficiaries, the FDIC will insure the account up to $1,250,000 at any one FDIC-insured bank.

Basic FDIC Deposit Insurance Coverage Limits*

Single Accounts (owned by one person) $250,000 per owner

Joint Accounts (two or more persons) $250,000 per co-owner

IRAs and certain other retirement accounts $250,000 per owner

Trust Accounts $250,000 per owner per beneficiary subject to specific limitations and requirements

Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership or unincorporated association

Employee Benefit Plan Accounts $250,000 for the non-contingent, ascertainable interest of each participant

Government Accounts $250,000 per official custodian

Non-interest Bearing Transaction Accounts Unlimited coverage – only at participating FDIC-insured banks and savings associations **

Divide and Insure

With the coverage chart in mind, let’s assume you and your spouse need to deposit more than $250,000 into interest bearing accounts and want to use only one bank. Your money will be fully insured provided your accounts meet certain requirements.

Here’s how it works:

1. Account A ($250,000) is a checking account opened under the husband’s name payable upon death to his trust or other beneficiaries.

2. Account B ($250,000) is a checking account opened under the wife’s name payable upon death to her trust or other beneficiaries.

3. Account C ($500,000) is opened as a joint account under both spouse’s names, payable upon the first spouse’s death to their living trust. Each owner’s share is insured up to $250,000.

4. Account D ($250,000) is a revocable trust account opened by the husband.

5. Account E ($250,000) is a revocable trust account opened by the wife.

Since retitling your accounts may negatively impact your current estate plan or cause an asset to be probated, please consult your estate planning attorney prior to closing and/or opening new accounts in order to maintain the integrity of your current plan.

According to the FDIC website (at www.fdic.gov), the FDIC directly supervises about 5,250 banks and thrifts - more than half of the institutions in the U.S. banking system. The FDIC insurance fund totals approximately $49 billion, which insures more than $3 trillion of deposits in insured U.S. banks and thrifts.

Since the FDIC insures deposits with each FDIC-insured bank separately from deposits at a different insured bank, you may wish to consider holding different accounts at separate FDIC-insured institutions to ensure the availability of FDIC insurance for all of your bank accounts. In other words, if you need additional insurance protection, don’t put all your eggs in one “bank” basket, but spread the wealth around to different institutions.

Conclusion

Since the FDIC was established nearly 75 years ago, no depositor has ever lost a single penny of FDIC-insured funds. That is not to say it couldn’t happen, of course, but with some thoughtful planning, you should be able to plan for the worst case scenario. If you have further questions about FDIC coverage, or how to divide your accounts to gain the greatest coverage, talk to your banker or visit www.myfdicinsurance.gov.

Edited May 4, 2011 by masterdinar

[lightjds2]

Sorry you feel that way people. I'm not a garu nor a smart a##. What I wrote actually happened. Just thought it might mean something to someone.

Again my apology.

Thanks for the post........Some of these people are never going to be happy with any sort of reporting.....Some just feel the need to tear it down no matter what....It will be these same types that will still be pissing and moaning even after the RV no matter what the blessing may be it any gain for some simply wont be enough. If you got some thing to share I would do so that's what this site is..........Your not here to kiss peoples ass's I sure as hell ain't if they dont like the post so what.

[Jeneration]

She then left and returned with a couple of pamplets stapled together. They were about Dinars and the comming R/V.

.

easy then just get the copies ....

This is the first time I've heard this, so sorry if it is old news.

GO RV PLEASE

oohhhhhh so this is NOT your sons friend countryroads??? you don't exactly make that clear.

I was all excited because I see you are not new (Joined:31-December 10) .... but from the very last line I now get that you just ripped this from some other garbage dump lol

Edited May 4, 2011 by Jeneration

[SFlorida]

That's is so funny!

[Buckeye Pilot]

I am completly lost as to why people would give me Negs for saying this post(The Bank Drivle) was Horse Sh$tski.....

So please tell me, Those of you that gave me a -- Do you really believe what he said?!?!?!

I Mean Really... ?

[TC987]

A non-interest bearing account is insured up to the amount it has in it. New law... can't remember the law #, but your banker will know, just ask about it. It's how I will do mine before diversifying...

Just FYI to everyone that is thinking about placing their money in a non-interest bearing account because it is fully insured, you can also use what is called the CDARs program, which is available at most banks now. These accounts are interest bearing CD type accounts and are FDIC insured up to $50 million as of right now anyway. Some banks do not participate, but a lot of banks do. I'm sure 5/3 participates since it is a larger bank. CDARs interest rates are usually competitive or better than most market rates.

The way the CDARs program works is you go in and deposit your $50 million after cashing in. The bank places the funds in the CDARs program. The CDARs program then splits your funds up into multiple groups of whatever the max FDIC insurance at that time (right now it is $250,000) for interest bearing accounts. The CDARs program then "sends" each bundle of $250,000 to several of its participating banks, until the full balance is distributed and safe. But the participating banks send back that same amount in deposits from a different customer. The CDARs program keeps up with where all of the money is at all times, and the interest rate that is being received at each bank. But you only receive one statement from your bank showing the total interest earned from the CDARs program. The best part is, that if you chose to liquidate and get out of the program, you just go back to your bank, tell them you are withdrawing the funds, and they give it to you. You don't have to wait for all of the other banks to wire the money back to your bank.

This is just an alternative to the non-interest bearing account. Although this is not fully insured, I don't know that I would ever put $50 million or even all of my money in one bank after cashing in. The CDARs program provides safety by splitting the money up. I would hate to know that I waited all this time to cash in, I made my deposit at my favorite bank, and then the FDIC came in an closed it down. I know the non-interest bearing accounts are fully insured right now, but the FDIC is only obligated to pay you back. They are not required to do so within your timeframe. It can take a long time to sort out large accounts like that.

Take it for what it is worth. I am a bank auditor by trade so I am speaking from experience not opinion.

[Bigbuck1965]

haha

hahahahahahahahah

HAHAHHAHAHAHHAHAHHAHAHAHHAHAHAHAHHAHAHAHHAHAHAHAHAHA...

HOW MANY DINAR YOU GOT BOY?????

ROFLMAOOOOOOOOOOOOOOOOOOOO :lol: :lol:

what a class act... NOT!!!!!!!!!!

[chris31991]

haha

hahahahahahahahah

HAHAHHAHAHAHHAHAHHAHAHAHHAHAHAHAHHAHAHAHHAHAHAHAHAHA...

HOW MANY DINAR YOU GOT BOY?????

ROFLMAOOOOOOOOOOOOOOOOOOOO :lol: :lol:

lmao!

[Jeneration]

Take it for what it is worth. I am a bank auditor by trade so I am speaking from experience not opinion.

I'll take it!! Thank you for taking time to educate us with some "inside skinny" ---- especially in light of the fact that I think it was 150 banks closed in '10?

How bout a list of your top 10 FAVORITE banks

[eaglerod]

Sorry you feel that way people. I'm not a garu nor a smart a##. What I wrote actually happened. Just thought it might mean something to someone.

Again my apology.

You don't need to apologize. There are a lot of people on here that tell tall stories and honestly yours does sound kind of tall. To help us all and give you some credibility on here, Just scan the pamphlets and put them on the post. That would help a lot and give you a lot of credibility.

[sheik]

Bank tellers are the best source of info when it comes to currency investing. The 19 year old teller at my local bank gives me great advice.

[sandyf]

For some reason you must feel we are really f#!!Kn stupid to believe a teller was told to find out how much dinar you have.....

wow..............

Hilarious to say the least, NO way NO how or Im President Obummer.

Where is your proof that it did not happen?

If you do not like what you are hearing you can RESPECTFULLY disagree or keep you mouth shut.

[RRSport]

Yep!

I agree.

Im going to wave all my dinar at EVERBODY I CAN FIND that said it was a scam!!

Dear God I CANT WAIT!!!!

By then youll have white hair and be in either a home or a wheelchair!

[THINK.....]

BoA told me if I bring in more than 10,000,000 Dinar I get a shiny new toaster.

RV there yet? RV there yet?

[arycroft2000]

Post the pamphlet. for cryin' out loud.

If it really happened and you have the paper....scan it and post it.

[skepticaldinar]

Let's see the pamphlets!

I believe that the op failed to mention that this was not his/her first hand experience,but just a garbage rumor that was found on another site and pasted here.

[djhemp]

well thank you for the update! This makes perfect sense to me! The Dinar RV is supposedly part of a larger "redistribution of wealth". That means for the banks too! We would be forced to put our money in many banks including local small banks. I like it!

[Grandpa Dave]

Countryroads, could you please post a picture of the teller and the tellers private area ? Thanks

[Carrello]

May be 5/3 bank employees are not aware of FDIC new rule (as of December 2010) which states that "ANYamount deposited in NON interest checking account is insured" this rule expires December 31, 2012. There is no limit to amount deposited in one single account. Check with branch manager....

Please correct me if I am wrong....

You are absolutely CORRECT!

[Carrello]

MasterDinar posted information on trusts and beneficiaries being insured for up to $250,000. I do not know about that.

But at banks that carry FDIC insurance, if you have a non-interest bearing account, your deposits are covered, not matter how much you have in the account. You do not need to split your money into different banks. Any reputable bank will be FDIC insured. Check with your banker.

Matter of fact, we have three new bankers here on DV, Da Banker, Soda Popinski, and a banker from NC that just joined today. Check the Rumors section. Maybe you can check with them for a quick answer.

[E A Poe]

I am completly lost as to why people would give me Negs for saying this post(The Bank Drivle) was Horse Sh$tski.....

So please tell me, Those of you that gave me a -- Do you really believe what he said?!?!?!

I Mean Really... ?

I gave you a + cause i want to wave my dinar at everyone who sneeringly said the dinar is a scam too!! My own opinion, if he really got pamphlets he should scan them or take a picture of them and show us all!!! Then the apologies can be issued forthwith..................and he will be vindicated!!!

[cattleman]

SCAN THE PAMPHETS BROTHER LET'S SEE YOUR EVIDENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[oneremedy]

If...If its true, hook us up with some pics of these pamplets. If its true and the pamplets are real...You rock dude!

[Texas1]

Countryroads, could you please post a picture of the teller and the tellers private area ? Thanks

Now that is funny...plus1

[Buckeye Pilot]

I gave you a + cause i want to wave my dinar at everyone who sneeringly said the dinar is a scam too!! My own opinion, if he really got pamphlets he should scan them or take a picture of them and show us all!!! Then the apologies can be issued forthwith..................and he will be vindicated!!!

I will kiss his ass with RED lipstick!! If he shows us the proof, THERE IS NOT ANY CANT YOU SEE THAT??? He has yet to post any credible evidence of said meeting.

Fingers tapping.........................................................................

Amazed at the gullable who actually believe this.....