There is a product that’s about three years old that many banks offer called CDARs – Certificate of Deposit Account Registry – whereby you deposit say, $1 million ($1 million is the max), in one institution (in the form of a CD) and that institution farms your deposits out to other institutions in $100,000 increments. You only deal with your institution and your ENTIRE deposit balance, up to $1 million, is insured. Just a suggestion for those of you who are sitting on a big pile of cake and don’t want to hassle with farming out your lucre to various banks yourself to stay beneath the $100,000 insurable ceiling. There are at least a few banks in the San Diego area that offer this program.
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