Everything I've been able to find indicates that Business Accounts do NOT enjoy the same expanded FDIC coverage that personal or trust accounts can enjoy by adding joint owners, beneficiaries, etc. It appears that business accounts, regardless of the number of accounts and the number of owners on the accounts are only insured up to $100,000.

However, I haven't found anything that states it clearly and wanted to make sure before I advise the branch on how to handle the question from our customer. Thanks in advance.

Corporations, Partnerships and Unincorporated Associations cannot expand their deposit insurance coverage. The varied relationships that might be appropriate and routine for individuals have no practical application for an entity. The distinctions do not dwell on the purpose of the account, but on its ownership.

Thanks Ken! That's what I thought it meant from how it read but it sure would be nice if they could just add a sentence or two to most regulations just to make them a little more clearer. But heck, if we did that, the legal profession wouldn't have anything to fight over. Thanks again!

Oh, they could fight over whose explanation is the clearer.