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A comment on Tell HN: Coinbase now requires physical address of recipient in crypto transfers. Parent comment

Re:Tell HN: Coinbase now requires physical address of recipi... by HWR_14 on Friday June 24, 2022 @10:28AM (#31862440)
It's not $250k per bank. It's $250k per account type. So you get your savings, money market, checking and CD and boom, it's a million at a single bank FDIC insured.
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Re:Tell HN: Coinbase now requires physical address of recipi... by johntb86 on Friday June 24, 2022 @02:21PM (#31867085)
It's $250k per per depositor, per insured bank, for each account ownership category. So if you'd need to move your CD, savings, checking, etc. into separate ownership categories (e.g. one held in a single account, another held in a joint account, another held in a revocable trust) for that to work.
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Re:Tell HN: Coinbase now requires physical address of recipi... by HWR_14 on Friday June 24, 2022 @03:42PM (#31868339)
Ah, I missed the nuance. I knew that it was possible to duplicate coverage and misunderstood how.
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Re:Tell HN: Coinbase now requires physical address of recipi... by danaris on Friday June 24, 2022 @02:50PM (#31867596)
My apologies; I was unaware of that nuance.

I doubt I'll ever be able have over $250k in savings at any one time, so it wasn't something that seemed too much worth my time to learn more about.

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Re:Tell HN: Coinbase now requires physical address of recipi... by HWR_14 on Friday June 24, 2022 @03:43PM (#31868342)
Sorry, I had the wrong nuance. According to the other poster, it's by ownership type, not account type.
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