Quote:
Originally Posted by Tousi
A little off topic here: If someone has over 100K, isn't it possible to just establish a second account at the same bank?
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No... must different bank.
If your total assets in one bank such account like Checking, Saving, Investment, CD's are exceeding $100,000, then you are only insured up to $100,000 as total asset, not individual accounts.
If it was individual, everyone will do the same thing and create 2nd account and 3rd account. That will wipe out Government money completely. So its limited to one account as total assets.