The Federal Deposit Insurance Corporation (FDIC) insures bank deposits up to $250,000 per depositor, per ownership category, per bank. However, some experts believe that this amount is not enough and should be raised. President Joe Biden recently said that if further instability occurs, the FDIC may guarantee deposits above $250,000 again. Citizens Bank of Edmond offers additional coverage, with a limit of $150 million per depositor, through IntraFi Network. Customers can also review the list of banks in the IntraFi network and exclude those with which they prefer not to have deposits. Adding beneficiaries to an account is another way of getting more than $250,000 in coverage for deposits. Deposits owned by one person without any beneficiaries are considered single accounts, but once the owner designates one or more beneficiaries, the account may be insured as a revocable trust account. However, beneficiaries always get priority over a will. If children are named as beneficiaries but are not yet 18, a guardian will have to take control of the money until they become adults. Alternatively, a trust may be established to hold the money until the children are of age.