My wife and I have several accounts at the same bank totaling about 250K. I also have two business accounts at the same bank totaling about 250k. What is covered by FDIC and what is not? Should I move some of the money to separate instituitions to keep the cash amount in each bank to 100k per person?
Your insurance coverage will vary depending in part on whether your business is a sole proprietorship, in which case it will be counted as a deposit in your name, or an entity (LLC, partnership, corporation, etc.), whether your personal accounts are held individually or jointly, etc. Take a look at the information on the FDIC's online Electronic Deposit Insurance Estimator (EDIE). Before moving funds out of your present bank, if EDIE suggests you may have uninsured balances, check with the customer service representative there to find out if simply moving some money around between your personal individual and joint accounts might solve the problem.
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Your insurance coverage will vary depending in part on whether your business is a sole proprietorship, in which case it will be counted as a deposit in your name, or an entity (LLC, partnership, corporation, etc.), whether your personal accounts are held individually or jointly, etc. Take a look at the information on the FDIC's online 