Originally Posted by Alfonso XIV

I asked this question of the FDIC once, and got this response:
"The FDIC rules for all shares that each co-owner owns in joint accounts at one bank are added together and insured up to $250,000, separately from deposits held in other ownership categories, if all of these conditions are met:
- Each co-owner must be a natural person
- The co-owners must have equal withdrawal rights to the account(s)
- Each co-owner must personally sign the account signature card
- No beneficiaries are named on this account

Assuming the requirements above are met a joint account opened by a husband and wife is insurable for up to $500,000.

Individual accounts opened by each person with no beneficiaries named are also insurable for up to $250,000 for a total of $1,000,000 for the three accounts."

I interpret this to mean that it's possible to quadruple down if you structure the 3 accounts properly.