Insured Cash Sweep – A Convenient Cash-Management Tool

The Insured Cash Sweep Service – A Convenient Cash Management Tool

American Bankers Association Endorsed Seal

ICS^®, the Insured Cash Sweep^® service, is a cash-management tool that provides you with access to multi-million-dollar FDIC insurance on your organization’s large deposits. The Insured Cash Sweep service is an excellent cash-management alternative to repurchase agreements, money market mutual funds, and other traditional vehicles where finance professionals park excess cash. CFOs, treasurers, and other cash managers can use ICS to:

Enjoy peace of mind
Rest assured funds are eligible for FDIC protection.

Save time
Access multi-million-dollar FDIC insurance through a single bank relationship.

Earn a return
Put excess cash balances to work in demand deposit accounts, money market deposit accounts, or both.

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Thousands of banks offer ICS.
Find out if yours is one of them.

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, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.