Originally Posted by
KathyWdrf
No, you're just another person who has been making incorrect assumptions about how FDIC insurance works.
From the Electronic Deposit Insurance Estimator tool (EDIE) posted by
avlff above:
Well, actually I think you're making an incorrect assumption about the summary language in that link. The give-away are the lines, "Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more than $100,000 at one insured bank and still be fully insured."
There are eight categories of FDIC insurance, each with up to either $100,000 or $250,000 of coverage.