CDARS® Frequently Asked Questions

How is CDARS pronounced?

CDARS is pronounced, “cedars.”

Can I speak to a Network member about its experience using the CDARS service?

Several members of the Promontory Network would be happy to talk with you about how CDARS has created positive results for their institutions. Please call (866) 776-6426 (toll-free) and select Treasury Desk for information on Network member experiences, or get an overall snapshot of how institutions that offer CDARS are using it by visiting the Testimonials page to read their comments.

Whom should I contact to learn about joining the Promontory Network?

It is easy to become a member of the Promontory Network – enabling you to offer CDARS, as well as other member benefits. To find out more, contact us at or (866) 776-6426 (toll-free) for the appropriate Promontory Regional Director, who will help you to complete the process of joining.

Does Promontory provide support after my bank joins the Promontory Network?

Yes. Promontory provides implementation and operational support to all Network member institutions. A business development team, which includes a Regional Director and a Treasury Desk Manager, is assigned to every Promontory Network member institution to assist the member in connection with the member's sales and marketing activities. Client Services is available for operational assistance and troubleshooting. Additionally, Promontory provides accounting training, support webinars, and an online fulfillment site that enables members institutions to download customized, turnkey marketing materials.

Who provides the additional FDIC insurance?

The FDIC insurance coverage available through CDARS is provided by Promontory Network members who issue your customers’ CDs, each in amounts less than the standard FDIC insurance maximum. Your customers get the ease of working directly with just your institution while receiving FDIC coverage from many.

How much can I place for a single depositor right away?

While CDARS is currently available to provide access to multi-million-dollar FDIC insurance coverage and while overall limits and weekly sub-limits do apply, with notice, we frequently can accommodate requests to place tens of millions of dollars at a time. Just contact Promontory's Treasury Desk at (866) 776-6426 to initiate a discussion. Network members can access the current limits by visiting the secure portion of the Promontory Transaction & Reporting Portal's Limits and Product Terms.

Does the FIL-29-2010 that was issued by the FDIC on Monday, June 7, 2010 address the Certificate of Deposit Account Registry Service (CDARS)?

We are not a “third-party affinity group" or "trade association” referenced in the letter. However, the letter more broadly discusses principles that apply to the placement of deposits. We have always operated CDARS in accordance with the principles outlined in the letter, and will continue to do so. For more information, please click here.