Individuals can obtain up to $2 million of incremental FDIC insurance coverage by opening a Max account linked to 8 online savings accounts ($250,000 x 8 = $2 million.)


Couples can obtain up to $8 million of FDIC insurance coverage by opening a combination of individual and joint accounts at each of these online banks and, correspondingly, 3 Max accounts to manage each set of 8 online savings accounts, as outlined below:


Account Title / Account Type# of Accounts x FDIC LimitTotal FDIC Coverage
Spouse #1 - Individual8 x $250,000$2,000,000
Spouse #2 - Individual8 x $250,000$2,000,000
Spouse #1 and Spouse #2 - Joint8 x $500,000$4,000,000

TOTAL$8,000,000


Note: Members should take account of any existing FDIC coverage being used for other accounts e.g. CDs or checking accounts held at any of the supporting institutions.


Max plans to add support for additional online banks over time, which will, correspondingly, increase the amount of FDIC insurance coverage available to Max members.


If you have a more complex situation, you can use the FDIC's Electronic Deposit Insurance Estimator to determine how much FDIC coverage you may be eligible for. Members can also use trusts for broader FDIC coverage.