Max helps you spread your cash out across multiple banks to keep you below the FDIC insurance limit at each bank.


By default, Max proposes that at the completion of each optimization, you desire to have no more than $249,000 in each online savings account (this leaves a $1000 cushion below the current FDIC insurance limit of $250,000, so that interest that accrues through the date of your next optimization can also be insured). If you indicate that you have joint accounts, by default, Max will propose keeping your balances below $500,000 per account.


If you wish to specify Custom limits per account, either because you wish to exceed the FDIC limit, or because you already have a CD or other account at one of these institutions and desire to keep a smaller amount in each savings account, you can set your own balance limits on an account-by-account basis, per the attached illustration:


1. Navigate to "Profile" > "Account Settings"

2. Select “Custom” FDIC Coverage

3. Click on the gear icon next to any of your savings accounts

4. Set your desired maximum target balance

5. Click to save your changes


Note: FDIC insurance is provided by your banks, not by Max. If you increase your per-account limits above the FDIC insurance limit, your funds may be at risk in the event of a bank failure.



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