We have all been made aware of the recent news regarding SVB and the possibility of individuals losing their deposits that exceed the FDIC insured limit. Given that this limit is not particularly high, there are concerns regarding whether individuals will lose all of their funds that exceed the insured limit.
What options are available to individuals who hold funds exceeding the FDIC insured limit for a single account? Apart from maintaining accounts across multiple banks, are there any other viable alternatives? TIA.
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If you have enough money for the FDIC limit to matter, you probably want to keep most of it in investments, not a bank account. If keeping that much money in a bank account *is* what you want to do, then yes, you have to split it across multiple institutions or accept the risk of losing it.
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