Bank Safe, Bank Smart®
With ICS®, the Insured Cash Sweep® service, you can secure your large deposits while maintaining access to funds and earning interest on funds placed into demand deposit accounts or money market deposit accounts.
Thousands of banks offer ICS.
Find out if yours is one of them.
knowing your ICS funds are eligible for multi-million-dollar FDIC insurance, protection that's backed by the full faith and credit of the United States government.
through unlimted program withdrawals (using the ICS demand option) or up to six program withdrawals per month (using the ICS savings option).
on ICS funds placed into demand deposit accounts using the demand option or money market deposit accounts using the savings option.
To access multi-million-dollar FDIC insurance on CD investments while working directly with just one financial institution, visit CDARS.
Placement of funds through the ICS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS settlement for a deposit or after ICS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS satisfies those restrictions. ICS and Insured Cash Sweep are registered service marks of Promontory Interfinancial Network, LLC.
© 2017 Promontory Interfinancial Network, LLC | Patents