How to Maximize Your FDIC Coverage

We know how important it is for our customers to know their finances are safe and secure, and a key component in this security is FDIC insurance. The Federal Deposit Insurance Corporation (FDIC) was created by Congress to make sure the money in Americans’ bank accounts is safe. The government has set the current limit on FDIC insurance at $250,000 but if you’re looking to insure more than this you still have options.

Ken at Deposit Accounts recently wrote a blog post that talks about how consumers can maximize their benefits. You can also find details site on the Ally site regarding how to make the most of your FDIC insurance.

If you have any questions about FDIC protection, you can reach us 24/7 by calling 1-877-247-ALLY (2559) or chat live with a customer care representative on

Do you use multiple accounts to insure your money? Have you set up a trust to help maximize your FDIC insurance?



  1. 1
    Merle H. Smith

    How often should I check about a possible increase to my “raise your rate” CD? Wouldn’t it be more user friendly for you to send a change in rates to me?
    Is each account insured by FDIC for $250,000?
    Should I consider changing my accounts to our Living Trust account—-or perhaps just when I open a new account?

  2. 3

    I strongly agree the consumer should not be responsible for checking CD rates on a daily/weeekly basis. Those clients with “raise your rate CDs” should be notified by Ally automatically through secure email. That would be PREMIER service.

  3. 4

    The man who suggested that Ally send their CD customers a notice of their rate changes had a great idea. Is your bank considering this notice via e-mail?


  4. 10

    Since Ally doesn’t seem to pay any attention to this “Straight Talk Blog”, I’ll answer my own question.

    No, it doesn’t look like Ally is ever going to answer George’s question about FDIC and Demand Notes.

    (Of course the answer is that NO, Demand Notes are NOT protected by FDIC. But, for the higher risk you get a higher interest rate.)

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