FDIC rules allow couples to stack individual and joint accounts to insure up to $1 million at one institution without additional banks.
A married couple can insure up to $1 million in deposits at a single FDIC-insured bank by combining two individual accounts and one joint account. Each individual account qualifies for $250,000 in coverage, while the joint account adds another $500,000, totaling $1 million.
FDIC insurance applies per depositor, per bank, per ownership category. Individual and joint accounts are treated as separate categories, enabling households to maximize coverage without opening accounts elsewhere. The rule extends to any two people with equal withdrawal rights on a joint account.
Coverage for joint accounts reverts to single-owner limits six months after a co-owner’s death, exposing deposits to potential uninsured risk if not restructured.