UnThreaded | Threaded | Whole Thread (24) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: SisypheanFool Big red star, 1000 posts 10+ Year Anniversary! Old School Fool Motley Fool One Everlasting Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76421  
Subject: Re: retirement stress Date: 1/2/2005 12:01 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
The FDIC protection is cummulative. It is not $100,000 per bank. It's $100,000 per person. Spreading the money around doesn't do anything but lead to more paperwork and more to keep track of.

Not sure where you get your info, but here's what FDIC notes:
http://www.fdic.gov/deposit/deposits/insured/faq.html

Can I increase my insurance coverage by depositing funds with different insured banks?

Your deposits with each FDIC-insured bank are insured separately from any deposits you have at another insured bank. If an insured bank has branch offices, the main office and all branch offices are considered one insured bank – you cannot increase insurance coverage by placing deposits at different branches of the same insured bank. Similarly, deposits held with the Internet division of an insured bank are considered the same as funds deposited with the “brick and mortar” part of the bank, even if the Internet division uses a different name.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (24) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement