We got the same email from Citi (C), this morning, as Felix Salmon did, and found it similarly unusual:
Unlimited FDIC Insurance Coverage on your Citibank Checking Account
Dear JOSEPH WEISENTHAL,
Good news! Citibank is participating in the FDIC’s Temporary Liquidity Guarantee Program. Through December 31, 2009, all of your non-interest and interest bearing checking deposit account balances are fully guaranteed by the FDIC for the entire amount in your account. *
And as a reminder, in October the FDIC increased the amount of insurance on eligible savings accounts — such as savings, market rate, money market accounts, club and holiday accounts, and certificates of deposits — from $100,000 to $250,000 through December 31, 2009.**
To learn more about FDIC insurance, visit the agency’s web site at www.fdic.gov or call a Citibank representative at 1-800-374-9700. You may also call the FDIC at 877-ASKFDIC (877-275-3342) or TDD 800-925-4618.
Unlimited insurance, eh? Any ideas what this is all about?
Whatever it is, I now feel a lot better about depositing that $250,001 check we’ve been sitting on.
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