FDIC Insurance Limits and Ownership Categories
Deposit insurance is offered by the Federal Deposit Insurance Corporation (FDIC) to safeguard depositor money kept in FDIC-insured banks. It’s essential to comprehend FDIC insurance restrictions and ownership classifications to make sure your deposits are sufficiently safeguarded. As of 2022, each account ownership type will get a standard insurance sum of $200,000 per depositor, each insured bank. Individual accounts, joint accounts, some retirement accounts, and certain trust accounts are among the ownership categories that the FDIC recognizes. Usually, up to the designated maximum, each ownership type is covered separately.
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