The FDIC provides deposit insurance in the amount of $250,000 per ownership category. As such, individual accounts are insured up to $250,000 at each bank, and joint accounts can be insured up to $500,000 at each bank ($250,000 per depositor). Since individual accounts and joint accounts are considered to be different ownership categories, a couple can obtain up to $1,000,000 of insurance at each bank by opening 3 separate accounts: one account in the name of each individual, and a third account held jointly. Using a trust account is another way to obtain additional FDIC insurance coverage.

FDIC coverage is a government program and is provided directly by your banks, not by Max. You can learn more about FDIC insurance coverage by visiting You can also use the FDIC's Electronic Deposit Insurance Estimator to determine your FDIC coverage.