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Tips for banking with fewer worries

By James Bernstein and Danny Teigman | Newsday Staff Writers

Periodically review your situation to see if there's been a major change in your life or banking so that you have more than FDIC-insured $100,000 at one bank. If you do, move money to another banking institution.

Get a copy of "Your Insured Deposits: FDIC's Guide to Deposit Insurance Coverage," by calling 1-877-275-3342; or go to www.fdic.gov and go to "About FDIC."

Learn about the different categories of deposits and how much can be put into each category. For example, the FDIC insures up to $200,000 for joint accounts and ensures up to $250,000 for single retirement accounts.

Research the strength and stability of bank institutions you use or are considering. One comprehensive source is Bankrate.com, which examines approximately 4,800 financial institutions.