Are all bank accounts insured by the FDIC?

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3 weeks ago
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Many people assume that all bank accounts are FDIC insured, sadly this is not the case. Likewise not all money you deposit into an account with FDIC will be covered by the insurance. Accounts are generally insured for just the first $250,000 per account.

I don’t often recommend most people leave this kind of money sitting in a bank account. Especially with today’s low interest rates. If you must have this kind of cash sitting around, you may want to have accounts at more than one institution.

Yours in Success

David Rae

 

Securities and advisory services offered through National Planning Corporation (NPC), Member FINRA, SIPC, a Registered Investment Advisor. Trilogy Capital Trilogy Financial and NPC are separate and unrelated entities.  The opinions voiced in this article are for general information only and do not constitute an endorsement by NPC. NPC does not provide tax advice.  www.financialplannerLA.com

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