Does FDIC cap 250k apply to any account type or certain account?

Discussion in 'Risk Management' started by ggelitetrader000, Apr 6, 2023.

  1. I have net spread around various types of account:

    bank1:
    account 1: checking: ~20k
    ---
    bank2:
    account 1: brokerage trading: ~130k
    account 2: espp + rsu: ~140k
    ---
    bank3/financial instituation3:
    account 1: 401k #1 - 280k
    account 2: 401K #2 - 80k
    account 3: 529: #3 - 40k
    ---
    Question is, in a hypethical scenario, all of the bank1-3 goes belly up (pretty extreme, unlikely siaution, but lets say it happens):
    1. Which one is FDIC insured? Does it cover checking only or other types like brokerage, 401k, 529 etc?
    2. If all accounts above are covered is it per account basis or per bank basis?
    - Per account meaning: that if bank 2 goes belly up: whether 250k fdic limit apply each account 1 and 2, totalling 500k / per bank.
    - Per bank: 250k distributed within accounts within a bank.
     
  2. newwurldmn

    newwurldmn

    my understanding checking only and it's by individual not account. (individual per bank).
     
  3. ETJ

    ETJ

  4. thanks for info, looked at fdic.gov, looks like only checking/savings types are covered. other types are busted if all banks go belly up.