On Sep 17, 10:38*pm, "azotic" wrote:
Looks like the FED might take over WaMu this friday, if any reader has more
than 100K on deposit
tomorrow may be the last day to move your money or lose everything over
100K. Even if you have multiple
accounts totaling more than 100K move them. When silver state bank failed
the feds combined multiple
accounts that were under a single social security number treating them as a
single account. Multiple account
holders at silver state bank were only left with 100K even though thier
multiple accounts totaled more than 100k.

Best Regards
Tom.

You are right. Multiple accounts for the same person are only insured
up to 100k.
However Joint Accounts are insured to 200k ( 100k per person ). And
accounts that are POD ( pay on death ) are insured up to 100k per
person also. So you can put your kid or grandkid on an account as a
beneficiary and have 200k insurance on the account. There are some
limits as to who you can put on an account as beneficiary, so do your
own verification. Do not trust your understanding of what I said.

Dan