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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: marginmike who wrote (122574)9/17/2001 8:27:45 AM
From: Mark Marcellus  Read Replies (2) of 436258
 
Mike, unless I misunderstand you you are not fully protected by FDIC.

If I have deposits in several different FDIC-insured institutions, will my deposits be added together for insurance purposes?

No. Deposits in different institutions are insured separately. But, if an institution has one or more branches, the main office and all branch offices are considered to be one institution. So, if you have deposits at the main office and at one or more branch offices of the same institution, the deposits are added together when calculating deposit insurance coverage. Financial institutions owned by the same holding company, but separately chartered, are separately insured.

fdic.gov
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