Put cash balances to work and enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance. With the Insured Cas...
Put cash balances to work and enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance. With the Insured Cash Sweep, or ICS, service your funds are placed into demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or both. With CDARS, funds are placed into CDs. You can choose the service or mix of services that best meet your needs. ICS and CDARS offer the ease of working with just one bank—a bank you trust—and of receiving just one regular statement per each service or service option. Additionally, in certain types of transactions, banks can use the full amount of a deposit placed through ICS or CDARS for local lending, thereby supporting lending opportunities that build stronger communities. ICS and CDARS are brought to you by Promontory Interfinancial Network, a company that leverages financial technologies to benefit bank customers and banks of all sizes.