Reader conducts bank safety check

Your advice -- and Mr. Eisenberg’s -- in the story “How safe is your bank?” (Your Money, Aug. 7) is right on.

I recently opened a CD for $95,000 with Washington Mutual in my name, in trust for my daughter. The employee insisted that I could deposit more as the account would be insured up to $200,000 by the FDIC. I explained to him that the “in trust for” my daughter did not increase the maximum $100,000 FDIC amount. He insisted that I was wrong.

I called the Federal Deposit Insurance Corp. to determine the insurance coverage and also used the Electronic Deposit Insurance Estimator, per your recommendation -- and both stated that any amount over $100,000 was not FDIC insured.

Later when I discussed this with the branch manager, she stated after looking at my account that she did not know “what was wrong” with the FDIC as my account was insured for $200,000.

Pam Lewin

Lakewood