Comments on: FDIC Asks to Temporarily Increase Deposit Limits http://www.bargaineering.com/articles/fdic-asks-to-temporarily-increase-deposit-limits.html personal finance blog with anecdotes, advice and commentary. Sun, 12 Feb 2012 23:30:41 +0000 hourly 1 By: jim http://www.bargaineering.com/articles/fdic-asks-to-temporarily-increase-deposit-limits.html/comment-page-1#comment-288499 jim Thu, 02 Oct 2008 12:21:25 +0000 http://www.bargaineering.com/articles/?p=3593#comment-288499 tostarz: You are correct, they are insured by the same insurance company ad and that company is an agency of the United States Government so it won't fail. tostarz: You are correct, they are insured by the same insurance company ad and that company is an agency of the United States Government so it won’t fail.

]]> By: tostarz http://www.bargaineering.com/articles/fdic-asks-to-temporarily-increase-deposit-limits.html/comment-page-1#comment-288440 tostarz Thu, 02 Oct 2008 06:57:15 +0000 http://www.bargaineering.com/articles/?p=3593#comment-288440 The way I understand the insurance is that you are insured up to $100,000 on your bank deposits. You can have as many bank account to keep you under that at amount. But this is not a sure bet. Most of the banks are insured by the same insurance company. This company can only pay so many claims before it runs out of money. We all know insurance companies can fail also. I understand that if the insurance company gets where they are failing then it doesn't matter how many accounts you have you will only get 100,000 . The way I understand the insurance is that you are insured up to $100,000 on your bank deposits. You can have as many bank account to keep you under that at amount. But this is not a sure bet. Most of the banks are insured by the same insurance company. This company can only pay so many claims before it runs out of money. We all know insurance companies can fail also. I understand that if the insurance company gets where they are failing then it doesn’t matter how many accounts you have you will only get 100,000 .

]]> By: DjFarout http://www.bargaineering.com/articles/fdic-asks-to-temporarily-increase-deposit-limits.html/comment-page-1#comment-288264 DjFarout Wed, 01 Oct 2008 15:46:48 +0000 http://www.bargaineering.com/articles/?p=3593#comment-288264 My bank told me by adding beneficiaries to the account, would increase the insurance. Each person at the bank as a total $100,000 insurance over all their deposits at the bank. Here is my scenario : About 5 years ago Mom put about $200,000 in 2 CDs at 2 banks. They are about $125k now in each of the CDs. The bank told her to add me as a beneficiary. So the $25k would be covered under the FDIC. I don't have accounts at those banks, I did it. Is that true? is the money safe? Looking back, it seemed like a marketing tactic to keep her money there. A month ago, I ended up converting one of the CDs into your rolling emergency fund plan for her. My bank told me by adding beneficiaries to the account, would increase the insurance. Each person at the bank as a total $100,000 insurance over all their deposits at the bank.

Here is my scenario :

About 5 years ago Mom put about $200,000 in 2 CDs at 2 banks.

They are about $125k now in each of the CDs.

The bank told her to add me as a beneficiary. So the $25k would be covered under the FDIC. I don’t have accounts at those banks, I did it.

Is that true? is the money safe? Looking back, it seemed like a marketing tactic to keep her money there.

A month ago, I ended up converting one of the CDs into your rolling emergency fund plan for her.

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