Posted by Rich-CA on March 28, 2008 at 21:32:43:
In Reply to: Re: FDIC/bank insurance questions posted by michaela-CA on March 26, 2008 at 16:44:50:
and its $100k total of all accounts per account holder as identified by SSN or EIN that owns the account. So if husband and wife both have accounts, each under their own SSN without the other specified as co-owner, the effective limit should be 2 x $100k = $200k. Also, certain IRA accounts are insured up to $250k.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
So an LLC account should have its own limit separate from your personal one. or what we do: one bank has company accounts, our credit union has the personal account (and its limit under the credit union equivalent of FDIC is $200k, not $100k. Basically, spread it around so you are less at risk.