FDIC insurance covers as much as $100,000 for every depositor. However, acquisition of several accounts in different accounts is not prohibited. This implies that you could keep potentially, for instance, a sum total of $500,000 if you have five separate accounts, each in a different bank. Insurance for retirement accounts covers up to a maximum of $250,000.

If you have more than $100,000 to deposit but do not want to open up a new account in a separate bank, you could open a different type of account under the same institution of your original bank account. This is a limited alternative, but can be set up sufficiently in numerous ways.

For single accounts, you can open up, aside from your individual account, new accounts such as checking accounts, retirement accounts, savings accounts and revocable living trusts. For married depositors, individual accounts for both husband and wife, joint accounts, combinations of checking, retirement or savings accounts, and individual revocable living trusts for the husband and wife could be set up.