Savings & Retirement
How to Supersize Your FDIC Insurance
Services that spread money between networks of insured banks to get coverage well above the $250,000 limit are getting new attention.
Silicon Valley Bank customers wait in line at the headquarters in California on March 13.
Photographer: Noah Berger/AFP/Getty Images
This article is for subscribers only.
As customers raced to pull billions out of Silicon Valley Bank and Signature Bank in March, the usually boring world of FDIC insurance suddenly became a hot topic.
The bank failures were a stark reminder that big deposits can be vulnerable if they exceed the $250,000 Federal Deposit Insurance Corp. limit, and sparked a scramble among high-net-worth savers and businesses to make sure all their money was protected.