FDIC insurance extends to both the principal and accrued interest while the account balance remains within the limits. It is important to note that there are some caveats for business. For example, the FDIC will provide insurance for business accounts as long as the entity was not formed for the sole purpose of extending FDIC insurance. Additionally, business deposits do not interfere with the FDIC insurance coverage for any owners or employees who have individual deposits at the same bank.
In the past this problem required a labor-intensive solution, but now there are innovative ways to overcome these insurance limits without the headaches.
For example, to overcome the standard limitations of FDIC insurance at a single bank, a business could create enough accounts at other insured banks to make sure all their deposits are covered. However, managing multiple banking relationships has proven too tedious in the past for many organizations to effectively utilize this strategy.
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