Don_Dickle@lemmy.world to

No Stupid Questions@lemmy.world · 4 days ago

If a US bank only insures your money up to 250k does that mean I have to visit four different banks to have a million dollars insured?

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If a US bank only insures your money up to 250k does that mean I have to visit four different banks to have a million dollars insured?

Don_Dickle@lemmy.world to

No Stupid Questions@lemmy.world · 4 days ago

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4 days ago
Yes

There is also something called an ICS account that will split money across thousands of banks

Good luck if the banking system collapses.

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