That isn't how that works.

Its $250k per account type, per institution. So 5 savings accounts at the same institution doesn't increase your insurance over 1.

Some banks will "sweep" the excess funds into partner banks (which would increase protection).

Gotcha that makes sense.

It's only $250K per account category per bank. So 5 savings accounts would only get $250K in coverage in total.

Were the Canadian banks using US insurance?

Ouch @ inflation