[PAR35]

My wife found out about a month ago that our bank, which had told us our money was all insured

There are ways to structure accounts so that more than $250,000 can be insured, but the problem is if you tell the bank to do that, and they say they've done it, but the account records don't show that it's done exactly right, you are the one that gets screwed at the closing, not the bank. Safer to have multiple banks.

[WildHighlander57]

Is the structuring done by designating two beneficiaries?

https://www.fdic.gov/resources/deposit-insurance/trust-accounts/