Through the Federal Deposit Insurance Corporation (FDIC) deposit insurance, consumers can confidently place their money at insured banks across the country knowing it is backed by the full faith and credit of the United States government.  Currently, the standard insurance amount is $250,000 per depositor, per insured bank for each ownership category. Strategies for more than $250,000 in the bank  Open an account at different bank It's a good practice to have more than 1 bank account because for whatever reason you can't get to your primary bank, you have options.  Also, many different banks can offer different benefits and perks.  For example, Chase is one of the largest and probably most trusted bank with historic roots to JP Morgan.  Not a lot of benefits and perks, but there are many locations and perceived safety Bank of America, another large institution with many locations offers a Museums on Us Program where participating Museums provide complementary a...