Goldman Sachs today increased the Apple Card savings account's balance limit to $1 million, with cardholders being notified by email. From...
  • circuitfarmer@lemmy.worldEnglish
    3·
    9 months ago

    Am I missing something or is there simply no recourse if you lose your money over $250k (the FDIC limit)? The article mentions the FDIC limit but doesn’t mention any kind of equivalent guarantee from Goldman Sachs (as if there would be one…).

    • nick@midwest.socialEnglish
      3·
      9 months ago

      I believe that’s correct, yeah. 250k is the limit, per bank per account type. So if you have 250k on a chase savings account, 250k in a chase checking, you’re covered. Open another savings or checking, and they WONT be covered.

      That is my understanding anyway.