All-In-4-RV Posted September 18, 2010 Report Share Posted September 18, 2010 http://www.todaysseniors.com/pages/FDIC_Insurance.html I've been in retail banking for many, many years, and have been self employeed for the past 10 years. As we all know, FDIC insurance protection was raised to 250,000.00 per individual deposit account last year. The link above states FDIC insurance reverts back to the lower coverage of only $100,000.00 per deposit account on December 31, 2013. Maybe I'm just out of the 'banking loop' but I had NO Idea! Thought this tid-bit of information would be surprising to some other folks as well. ?? Blessing to all! Go RV! Link to comment Share on other sites More sharing options...
dizzyd Posted September 19, 2010 Report Share Posted September 19, 2010 http://www.todaysseniors.com/pages/FDIC_Insurance.html I've been in retail banking for many, many years, and have been self employeed for the past 10 years. As we all know, FDIC insurance protection was raised to 250,000.00 per individual deposit account last year. The link above states FDIC insurance reverts back to the lower coverage of only $100,000.00 per deposit account on December 31, 2013. Maybe I'm just out of the 'banking loop' but I had NO Idea! Thought this tid-bit of information would be surprising to some other folks as well. ?? Blessing to all! Go RV! http://fdic.gov/deposit/deposits/changes.html Check this link, it was raised permanently in July 2010 to $250K Link to comment Share on other sites More sharing options...
jesse1190 Posted September 19, 2010 Report Share Posted September 19, 2010 http://www.todaysseniors.com/pages/FDIC_Insurance.html I've been in retail banking for many, many years, and have been self employeed for the past 10 years. As we all know, FDIC insurance protection was raised to 250,000.00 per individual deposit account last year. The link above states FDIC insurance reverts back to the lower coverage of only $100,000.00 per deposit account on December 31, 2013. Maybe I'm just out of the 'banking loop' but I had NO Idea! Thought this tid-bit of information would be surprising to some other folks as well. ?? Blessing to all! Go RV! The only account that will adjust to be FDIC issued amount is a CDARS account. It will change on its own from the 250K back to 100K. Be sure to check and read more about these types of accounts. Link to comment Share on other sites More sharing options...
PAPATOM Posted September 19, 2010 Report Share Posted September 19, 2010 the problem with fdic is.....it's not a pay on demand guarantee..... if you have money in a bank that fails and you claim your fdic guarantee....they have 20 years to pay you back!!! their choice! Link to comment Share on other sites More sharing options...
All-In-4-RV Posted September 19, 2010 Author Report Share Posted September 19, 2010 http://fdic.gov/depo...ts/changes.html Check this link, it was raised permanently in July 2010 to $250K Thank you so much for your info. the problem with fdic is.....it's not a pay on demand guarantee..... if you have money in a bank that fails and you claim your fdic guarantee....they have 20 years to pay you back!!! their choice! Thanks for your reply and info. The only account that will adjust to be FDIC issued amount is a CDARS account. It will change on its own from the 250K back to 100K. Be sure to check and read more about these types of accounts. Thank you so much for your reply and info. Link to comment Share on other sites More sharing options...
kingfish Posted September 19, 2010 Report Share Posted September 19, 2010 http://www.todaysseniors.com/pages/FDIC_Insurance.html I've been in retail banking for many, many years, and have been self employeed for the past 10 years. As we all know, FDIC insurance protection was raised to 250,000.00 per individual deposit account last year. The link above states FDIC insurance reverts back to the lower coverage of only $100,000.00 per deposit account on December 31, 2013. Maybe I'm just out of the 'banking loop' but I had NO Idea! Thought this tid-bit of information would be surprising to some other folks as well. ?? Blessing to all! Go RV! Talking with a friend at BOA, most of the major banks avoid this as it is a large cost. Make sure to ask your banker if the account is insured that high. My guess is that it wont be. If the bank is offering it, they pay a premium. Link to comment Share on other sites More sharing options...
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