Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [fdic]

The Federal Deposit Insurance Corporation (FDIC) is a United States government-owned corporation that provides deposit insurance to US banks and thrifts.

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How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?

I am curious how a millionaire would guarantee the safety of his money, given that the FDIC only insures up to $250K of an individual's deposits at a bank. If someone had $3 million that they wanted to put into the bank, would they have to open up…
7529
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What happens to depositors at Silicon Valley Bank?

Today, Silicon Valley Bank is bankrupt, the second largest bank failure in American history. What happens to its depositors? Will they be able to withdraw (some of) their money? How long will they have to wait? In what form will they receive it?
Stack Exchange Broke The Law
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I have more than $250,000 in a US Bank account... mistake?

I'm currently carrying a balance of $356,000 in one bank account, which is in excess of the FDIC insured maximum of $250,000. I owe $100,000 in 2014 taxes (which will be paid by April), and the remainder will be used for a potential house down…
Fixee
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Do US banks cover the loss of money in checking accounts due to identity theft or hacking through the FDIC or some other ways?

This question is NOT about credit card accounts. It is about checking accounts with US banks. Suppose some US citizens have checking accounts with US banks, and the customers lose money due to either identity theft or a thief steals the customers'…
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Is SIPC coverage on cash as strong as FDIC?

I'm considering opening a brokerage account with a broker that is requesting $10,000 minimum funding. That money will not go to an FDIC covered bank account. But the broker does have an SIPC insurance. I understand that SIPC covers $250,000 of the…
Ofer
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FDIC vs SIPC: Are they the same?

Before posting this question I did read Is SIPC coverage on cash as strong as FDIC?, but the answer did not seem to make much sense/lacked many answers to help clarify for me. I was doing some reading online, and from what I understand, they are…
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How do I protect money above the FDIC coverage limit?

Recently, I received an inheritance of $1.2 million. I'm planning on investing 1/4 of that in properties. With that being said, I'm still way above the FDIC coverage. Besides investing, what else could I do to protect my money? Should I just open…
Jackie
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How does the FDIC in the United States work?

Issues in my head raised by the quesion about withdrawing money from a bank before it goes under If the purpose of the FDIC in the United States system is to insure deposits, how is the money the FDIC has collected? Is there an international entity…
MrChrister
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Is it possible to get a 3% yield that is FDIC insured or super low risk?

I just graduated from college and i am already planning my retirement. I know about 401k and i have that figured out already but in terms of money sitting in my bank account post retirement, assuming i have $250,000 what is the highest interest that…
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Would you withdraw your money from your bank if you thought it was going under?

The Texas Ratio attempts to measure how well a bank can cover its losses on nonperforming loans. A ratio over 100 indicates the bank is in trouble. I cross referenced the texas ratio for banks obtained from here (last updated 10/2009) with the…
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Doesn't the existence of FDIC incentivize savers to put their savings in the most risky bank?

The riskier something is, the more interest/coupon would be demanded by the lender. In the case of choosing where to put my savings, wouldn't the existence of FDIC incentivize searching for the bank that pays the highest interest on my savings? FDIC…
Flux
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Is there such a thing as a non-FDIC savings account, which earns better interest?

I'm sticking to the question that I'm asking but here's the background. I make decent pay and I'm also self employed. I invest money in an IRA at my own discretion each month, so I'm covering my bases for long term savings. However, my wife and I…
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MM account disappeared after NetBank failure. How to recover funds?

First-time poster. :O) In 2002 I opened and funded an online-only account with NetBank; the terms of the promotion required funds remain untouched for an extended period. Once the account was funded and verifiably functional I left it alone (big…
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Has anyone ever lost money over the FDIC limit?

Has anyone lost money because a bank failed and they had more than $250k in deposits? As in, has this ever happened?
user101781
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How would a small investor protect their nest egg if it goes beyond SIPC limit and bank accounts if beyond FDIC limits

Sometimes I wonder if I won a few million in the lottery, how would I protect it? There is news that a big company like Roku had $487 million with a failed bank (SIVB). I wonder how the small investor protects their nest egg if it goes beyond SIPC…
puzzled
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