You're covered for $100,000 per account per account holder--not per bank. What counts is account ownership.
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Single accounts are covered for up to $100,000. Joint accounts have $100,000 of insurance protection per account holder, and retirement and trust accounts also qualify. So spread your money around. “A married couple can actually shield $1.1 million at one bank just by titling accounts so they are in different ownership categories,” said Greg McBride, a senior financial analyst at Bankrate.com.
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Where to Keep Cash When No Investment Seems Safe - NYTimes.com
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