The standard maximum deposit insurance amount (SMDIA) is $250,000 per depositor, per insured bank, for each account ownership category. For more details, visit FDIC.gov/resources.
In simpler terms, the FDIC insures deposits based on the depositor, the insured depository institution, and the ownership type of the account. Our partner bank provides a sweep program that distributes your funds across a network of chartered banks. This program allows you to access millions of dollars in aggregate FDIC insurance² coverage by allocating your deposits across the network banks.
Please note that the $250,000 insurance limit includes any other funds you may have at a receiving bank. To address concerns about other deposits held at specific banks, you can exclude certain banks from holding your deposits through IntraFi’s ICS services. For more information, visit intrafi.com/ics-cdars.
Note: For more details, please refer to Disclaimer 2 at the bottom of our website: https://roborafinancial.com/ or please reach out to our customer support team via chat or by emailing us at [email protected]. We’re here to help!