How to calculate your bank deposit coverage

 Yes, it’s here. Based on the scary prospects faced by many banks, the FDIC (Federal Deposit Insurance Corporation) has announced they will use some of the $700 billion package to increase the insured values of the owners deposits to $250,000 per depositor.

In other words, if you are a US citizen FDIC can help you claim back a maximum of $250,000 from your baknk deposits from one single bank account. The new calculator has a human face and it’s called Edie. You could see Edie in action here, with tutorials and other useful stuff included.

Of course, the money are paid by the US government and the advertising at the bottom has some disclaimers, so if you are in doubt you’d better check the website of Edie. The checking process is quite straightforward and has also the added bonus that it’s linked with oither useful infos – such as the list of banks who ceased trading.

What can I say…good luck and may that you don’t have to use it.

 

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