Independent educational resource. We are not a bank, broker, financial advisor, or affiliate of any issuer listed. APYs are sourced from each issuer's own published page on the date noted at the top of each rate table. Rates change frequently -- verify directly with the issuer before opening an account. FDIC insurance limits sourced from FDIC.gov. Nothing on this site is personalised financial advice. Consult a qualified advisor before making decisions about your savings strategy.

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HYSAMMAFAQ

Over $250,000 in Cash: how to keep all of it FDIC-insured in 2026

Yes, you can legitimately have more than $250,000 FDIC-insured. Here are the four legal mechanisms.

Source: FDIC.gov -- Your Insured Deposits and FDIC Ownership Categories.

Mechanism 1
Joint accounts

$500k at one bank (2 co-owners x $250k each)

Mechanism 2
Multiple categories

$1.5M+ per couple via individual, joint, trust, IRA

Mechanism 3
IntraFi ICS / CDARS

Millions covered via one-bank, multi-bank sweep

Mechanism 4
Multiple banks

$250k per bank, fully controlled by you

Mechanism 1: Joint accounts ($500,000 at one bank)

The FDIC insures each co-owner of a joint account up to $250,000 for their share of the account. A two-person joint account at one bank can hold up to $500,000 in FDIC coverage -- $250,000 per co-owner.

Joint account (spouse A + spouse B)
Coverage: $250,000 per co-owner = $500,000 total
Source: FDIC Ownership Categories

Mechanism 2: Multiple ownership categories (up to $1.5M+ per couple)

Each ownership category at an FDIC institution gets its own $250,000 limit. At one bank, a married couple could structure:

CategoryCoverage per ownerCombined (2 people)
Individual accounts$250,000 each$500,000
Joint account$250,000 per co-owner$500,000
Revocable trust (beneficiaries)Up to $250k per beneficiary per owner$1,000,000+ with 4 beneficiaries
Traditional / Roth IRA$250,000 per owner$500,000

Source: FDIC.gov Ownership Categories. Use FDIC EDIE to calculate your exact coverage.

Mechanism 3: IntraFi network sweeps (ICS for savings, CDARS for CDs)

IntraFi operates a network of 100+ FDIC-insured banks. When you deposit money at a participating bank, IntraFi sweeps portions across the network -- each slice under $250,000 at each bank. You interact with one bank; IntraFi handles the distribution behind the scenes.

ICS (savings/money market)

Insured Cash Sweep for liquid savings and MMA deposits. Same APY as your participating bank offers. Good for: retirees, businesses, trusts with large cash balances.

CDARS (CDs)

Certificate of Deposit Account Registry Service for fixed-term deposits. One CD application, multiple banks, all insured. Good for: retirement savers who want CD yields with full FDIC coverage.

Banks offering ICS include Citizens Access, CIT Bank, and many others. Ask your bank if they participate in IntraFi ICS or CDARS. Source: IntraFi.com.

Mechanism 4: Multiple banks (most flexible, most friction)

Simply open accounts at multiple FDIC-insured banks, keeping up to $250,000 at each (or use joint/trust structures at each to extend coverage). This is the most straightforward approach for balances up to $1-2M and gives you full rate-shopping flexibility.

Example: $750,000 single individual
Marcus HYSA: $250,000 @ 4.10% ■ Marcus
Ally MMA: $250,000 @ 3.65% ■ Ally
Synchrony HYSA: $250,000 @ 3.90% ■ Synchrony
Total FDIC coverage: $750,000 ✓

Common misconceptions

  • Money market funds are not FDIC insured. Brokerage money market funds (VUSXX, FZDXX, SWVXX) are SIPC protected against broker failure, not FDIC insured. They can, in rare cases, lose value ("breaking the buck" -- last happened in 2008).
  • "We are insured up to $5M" claims. Some banks advertise this using private supplemental deposit insurance. This is not the same as FDIC. Understand what is actually covering your funds.
  • Cash sweep accounts at brokerages may not be FDIC insured. Some brokerage cash sweeps go into money market funds (SIPC), not FDIC-insured bank accounts. Check your brokerage's specific sweep program.

Frequently asked questions

How much FDIC coverage can a married couple get at one bank?⌄
A married couple at one FDIC-insured bank can potentially have well over $1.5M in coverage, using multiple ownership categories: Individual accounts (each spouse gets $250k = $500k), Joint account ($250k per co-owner = $500k for the joint account), Traditional IRA for each spouse ($250k each = $500k), Revocable trust accounts (up to 5 beneficiaries x $250k per owner). The exact amount depends on how many beneficiaries you designate. FDIC.gov's Electronic Deposit Insurance Estimator (EDIE) calculates your specific coverage.
What is IntraFi and how does ICS work?⌄
IntraFi is the network behind the Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS) programs. When you deposit money at a participating bank, IntraFi automatically sweeps portions of your deposit to other banks in the network (100+ banks), keeping each slice under $250,000 for FDIC coverage. From your perspective, you only interact with one bank and see one account balance. ICS is used for savings/money market deposits; CDARS is used for CDs.
Can I get more than $250,000 FDIC coverage at one bank with a trust account?⌄
Yes. A revocable living trust account at an FDIC bank can be insured up to $250,000 per beneficiary (up to 5 beneficiaries without additional documentation, with certain rules). So a trust account with 4 beneficiaries could have up to $1,000,000 in FDIC coverage at one bank. The beneficiaries must be natural persons, charities, or non-profits -- not LLCs or corporations. The account must be titled correctly as a trust account.
Is private supplemental deposit insurance the same as FDIC?⌄
No. Some banks advertise coverage 'up to $5M' or similar figures using private supplemental insurance (like that offered by Insured Cash Deposits, Promontory, or state-specific mutual deposit insurance funds). This coverage is not backed by the US government -- it is only as good as the private insurer. In practice, private deposit insurance has never failed in the US, but it is not the same as FDIC. If you are relying on it for large balances, understand what you are actually covered by.
If a bank fails, how quickly does FDIC pay?⌄
The FDIC typically provides access to insured deposits by the next business day after a bank closes, usually via a new account at a healthy institution or a check mailed to your address of record. Uninsured deposits (above $250k limits) are treated as general creditors of the failed bank and may recover partial amounts over time, depending on the bank's assets. This is why staying within coverage limits matters.
Do credit union accounts have the same coverage as FDIC?⌄
Credit union accounts are insured by the National Credit Union Administration (NCUA), not FDIC. NCUA coverage is structurally equivalent to FDIC: $250,000 per depositor per credit union per ownership category. The same ownership categories apply (individual, joint, trust, IRA). NCUA is backed by the full faith and credit of the US government, same as FDIC.
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