Why ICS?

Access FDIC Insurance and Earn a Return Using Insured Cash Sweep


ICS®, the Insured Cash Sweep® service, is a smart, convenient way to earn interest and make your large-dollar deposits eligible for multi-million-dollar FDIC insurance. 

Access Multi-Million-Dollar FDIC Insurance

Access Multi-Million-Dollar FDIC Insurance

Enjoy peace of mind with access to multi-million-dollar FDIC insurance. Your funds are eligible for protection that is backed by the full faith and credit of the federal government. And you can forego the need for tracking collateral on an ongoing basis, opening accounts under different insurable capacities, or managing multiple bank relationships. 

Access Funds

Access Funds

The ICS demand option (where funds are placed into demand deposit accounts) offers unlimited program withdrawals. The ICS savings option (where funds are placed into money market deposit accounts) allows up to six program withdrawals per month. Your funds can be placed using either or both ICS options to best match your cash management and liquidity needs. 

Earn Interest

Earn Interest

You can earn interest on ICS funds placed into demand deposit accounts using the demand option or money market deposit accounts using the savings option.

The Insured Cash Sweep Solution

Product Problem Solution
Non-interest-bearing checking accounts Earn no interest and funds are insured only up to $250,000 per insured capacity, per bank You Can Have It All – Enjoy access to multi-million-dollar FDIC insurance, returns and flexibility

Interest-bearing checking accounts Earn interest, but funds are insured only up to $250,000 per insured capacity, per bank
Repurchase sweeps May earn interest, but the yield can be very low; the process carries administrative tracking burdens; and the investment is not backed by FDIC insurance
Collateralized deposits Administrative tracking problem can be more onerous than with repo sweeps, and only certain types of deposits can be collateralized
Money market mutual funds Earn interest, but the yield may be very low, and the investment is not backed by the full faith and credit of the federal government

Find financial institutions offering Insured Cash Sweep and safely put your money to work!

Placement of customer funds through the Insured Cash Sweep service is subject to the terms, conditions, and disclosures set forth in the agreements that a participating institution’s customer enters into with that institution, including the ICS Deposit Placement Agreement. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month when using the ICS savings option. ICS and Insured Cash Sweep are registered service marks of Promontory Interfinancial Network, LLC.

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