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Is it possible to increase FDIC insurance coverage by dividing my bank deposits into several different accounts at the same bank?

Yes, deposit insurance coverage can actually be increased if the accounts are held in different categories of ownership. These categories include single accounts, retirement accounts, joint accounts and revocable trust accounts. The accounts must be distinctly, different owned accounts.

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If I am concerned about rising inflation how should I manage my bank finances better to handle this situation?

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Since some credit unions offer some very attractive savings and loan rates, what does it take to become a credit union member?

Membership depends on the individual credit union. Credit unions are still required to limit membership to people who have a common bond. Geography, a common employer, a common group, or something similar can determine the bond.

I am concerned about banking online or even over the phone, if I bank by telephone or the internet, are my legal protections the same as when I bank in person?

Yes. The basic FDIC insurance amount applies to each separately chartered bank or savings association whether or not they internet based or not. In addition, you’re protected by the Electronic Fund Transfer Act, which governs consumer rights involving errors in the handling of electronic deposits, payments or withdrawals, and limits on consumer liability

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Is it possible to increase FDIC insurance coverage by dividing my bank deposits into several different accounts at the same bank?

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