Friday, August 06, 2010
An FDIC Secret You May Want to Know
The FDIC doesn't insure everything you have in the bank. Forbes Magazine recently reported on this. In fact, they even have a website to help you calculate what you will recover. You think you will get all your money back, that is what people assume. But recognize that FDIC insurance is an insurance policy just like every other policy. It has defined coverage in the fine print that has exceptions. Go to their website and see what you are really going to recover if your bank fails.