If a US bank only insures your money up to 250k does that mean I have to visit four different back to have a million dollars insured?

https://lemmy.world/post/44307250

If a US bank only insures your money up to 250k does that mean I have to visit four different banks to have a million dollars insured? - Lemmy.World

Lemmy

I don’t have the money to test this, but I imagine that there are other insurances available for people with more than $250,000 in cash assets.
I’m thinking the people with this kind of money probably don’t use our riff-raff banks.
They’re not keeping a million sitting around in cash. Investment accounts have a separate insurance program