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 Posted: Mon Aug 16, 2010 9:34 am Post subject: FDIC insurance |
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Please explain if our money is truly being protected under FDIC insurance. Are there any exceptions to the $2,50,000 worth of guarantee offered by FDIC?
I'm not really sure of it's rules and would like to have a clear picture of what's insured and what's not!
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doubtfulmind
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| Posted: Tue Aug 17, 2010 6:50 am Post subject: |
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I guess the $250,000 limit is permanent only for some retirement accounts. Otherwise, the limit should be temporary for the rest of the deposit accounts till 12/31/13.
I'll make sure that my bank is safer than many. Then only I'll consider whether I should have anything more than $100,000 (interest included) with an FDIC account. |
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roddick
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| Posted: Wed Aug 18, 2010 9:10 am Post subject: |
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A couple or an individual might open trust accounts for their near-n-dear ones. The limit for such accounts would be $250,000 worth of insurance coverage for each beneficiary or owner. The account holder's parent, spouse, sibling or grandchild may also have this coverage.
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Juanita
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| Posted: Thu Aug 19, 2010 7:24 am Post subject: |
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| If FDIC won't cover your deposits, then there's no federal protection for you. Once your account exceeds the limits set by FDIC and the bank fails, you'll have immediate access to the initial $250,000. For the remaining, you'll need to wait till FDIC sells off the bank assets. |
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steven
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| Posted: Fri Aug 20, 2010 7:00 am Post subject: |
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I have a small list to share with you regarding what's covered -
* NOW account deposits
* Accounts for Christmas clubs
* Deposit certificates
Hope this helps!
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sil
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| Posted: Fri Aug 20, 2010 7:57 am Post subject: |
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Bonds, stocks, market-based mutual funds and annuities are not covered by the FDIC insurance. On the other hand, institutional money orders and negotiable instruments are covered.
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Rexindex
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| Posted: Fri Aug 20, 2010 9:06 am Post subject: |
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FDIC also insures checks for both officers and cashiers. Expense checks are also covered I guess.
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anonymous00
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| Posted: Fri Aug 20, 2010 1:33 pm Post subject: |
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| Checks for disbursement of loans as well as interest checks are covered. Apart from that outstanding drafts are probably covered too. |
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RupertWBradson
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| Posted: Fri Aug 20, 2010 1:43 pm Post subject: |
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I feel it's gonnabe any type of investment product that you buy from a dealer/broker. It could even be a bank product. Treasury securities are also covered.
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stockmaximiser
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| Posted: Sat Aug 21, 2010 10:30 am Post subject: |
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There are a couple of other things that are covered-
Checks for loan disbursements, Checking deposits are two important things that are covered.
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Paleblueface
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