FDIC Information

Ltssharon
  |     |   65 posts since 2020

Maybe this should be on a different forum. I just want to post what I just read on a .gov site about new rules for FDIC coverage.

https://www.fdic.gov/resources/deposit-insurance/trust-accounts/index.html

Not me, but for those of you with both revocable and irrevocable trusts, and more than (forgot, but it was like 1,650,000 dollars, I don't quite remember), be SURE and read this. I want you to be safe and FDIC insured if you think you are.

Actually, I remember a time, within the last 10 years I guess, when the FDIC coverage rules caused me to move money into more places. And I learned about that rule change by pure accident.

I found this when I was trying to figure out if my Schwab "sweep" trust brokerage account was FDIC covered. I ended up calling Schwab, and a fellow there told me the sweep account in the trust is covered.



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