Reply #24: And then there are CDARS which will insure up to $50Million [View All]

[Dover]

Though I don't know which banks offer this. It's kind of like a bank coop.

Apparently they are a new thing. Anyone have some good info on them? What's the catch?

Welcome to CDARS

CDARS® is the Certificate of Deposit Account Registry Service®. And it's the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement with a participating local bank or other financial institution of your choice, earn one interest rate, and receive one regular statement. It's that easy.


CDARS is the perfect solution for many depositors — from non-profits and public funds to businesses, advisors (including trustees, CPAs, financial planners and lawyers) and individuals, as well as socially-motivated investors.


You've worked hard for your money. Now let it work hard for you. See for yourself
http://www.cdars.com/index.php

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CDARS: Beat the $100,000 FDIC limit
By Laura Bruce • Bankrate.com

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x40915