Can you insure your bank account? i.e have all your money recompensated by the insurance company incase of bank failure.

Question

Can you insure your bank account? i.e have all your money recompensated by the insurance company incase of bank failure.

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Answer 1

In the US banks are insured by the FDIC. This includes Credit Unions, which are covered by NCUA. You’re guaranteed $250,000 per bank and account. There might be special in house options if you’re really willing to push it, but it’s usually easier to spread the money around to several banks or account types than to pay for some sort of insurance.