IntraFi is not a bank itself instead, it’s a program that’s designed to help savers maximize their FDIC coverage limits. This network only includes FDIC-insured banks. IntraFi Network Deposits, or IntraFi, is a network of banks that work together to help high-balance savers insure their deposits. Using IntraFi to manage deposits that exceed FDIC coverage limits or those set by the NCUA may be a simpler option. But that can be tricky to manage if you have to open multiple accounts. Moving money to different accounts at different banks is one option. It’s possible that some of your deposits may not be covered once they exceed the specified limits. While FDIC insurance limits and NCUA limits may seem generous to the average person, they can be problematic for super savers or higher net worth individuals. ![]() The NCUA offers the same coverage limits for depositors who keep money at credit unions. But if one of those accounts had a joint owner, such as a spouse or parent, you’d be covered up to $500,000. So if you have a savings account and a checking account at the same bank, you’d be covered up to a combined balance of $250,000. Currently, deposits are insured up to $250,000 per depositor, per account ownership type, per financial institution. ![]() ![]() The FDIC insures deposits at banks to protect consumers against the unlikely possibility of a bank failure.
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