Is it 250k or 1.5 M ? What banks they use for fdic ? Having personal account in the same bank reduces fdic coverage ?? Is coverage per account or per individual in a given bank ?
Brokerages are insured by the securities investor protection corporation (SIPC), your holdings up to $500k are protected You can verify that here https://www.sipc.org/list-of-members/
$250,000 per one account but also you canāt have two accounts with $250,000 . You will lose one. But brokerage is $500,000
FDIC is only for bank deposit accounts that qualified. Not for investment accounts
You have 1.5m in a bank account? You arent rich enough to worry about this
What about 401k? What if I have more than $250k in Fidelity?
They actually are protected by the SIPC, as long as your brokerage is a member. Youāre covered for up to $500k in value of your holdings
Haha
Ok, found here hich banks are in your network? The following are our FDIC-insured program banks as of January 31, 2022. Keep in mind, Robinhood may change the network of program banks at any time. If a change is made, weāll let you know in advance. Goldman Sachs Bank USA HSBC Bank USA, N.A. Wells Fargo Bank, N.A. Citibank, N.A. Bank of Baroda U.S. Bank, N.A. Cash deposited to these banks will be covered by FDIC insurance up to a total maximum of up to $1.5 million (up to $250,000 per program bank, inclusive of deposits you may already hold at the bank in the same ownership capacity). While the FDIC insurance coverage limit at each bank is $250,000, $2,000 is reserved for accrued interest.
You should have $0 at Robinhood. Itās the most expensive brokerage to buy/sell stocks with
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Keep calm :) RH is safe. this person apparently has more than 250k in RH but not sure about fdic coverage š¤£ I should live like him in my next life.
Rh is not safe. It's a scam with a slick ui lol
Well, they donāt have to turn profit for the investors, and they donāt have their own crypto coin, so if they are sticking to their business model (i.e. selling our data) itās probably safe?