You have savings accounts at two separately FDIC insured banks. At one of the banks your account has a balance of $200,000. At the other bank the account balance is $60,000. If both banks fail, you will receive:
A) $250,000.
B) $60,000.
C) $260,000.
D) $200,000.

Question

Quizplus · Accepted Answer

The FDIC insures deposits up to $250,000 per depositor, per insured bank, for each account ownership category. Since the accounts are at two separate banks and both balances are under the $250,000 limit, you would be fully insured and receive the full amount of $260,000 ($200,000 + $60,000).

You Have Savings Accounts at Two Separately FDIC Insured Banks