Experts and Fintechs weigh in on potential FDIC coverage limit increase.

The FDIC may guarantee deposits above $250,000 again if further instability occurs, according to President Joe Biden. While most consumers do not have to worry about their deposits, experts suggest finding institutions that guarantee higher deposits or adding beneficiaries to your account to gain FDIC coverage even if you are over the $250,000 limit. Additionally, some states provide backstops for FDIC insurance, and other kinds of accounts may offer different protections, such as the National Credit Union Administration for credit union deposits or Securities Investor Protection Corporation for brokerage accounts.