ICS® Frequently Asked Questions
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 ICS and enjoy other member benefits. To learn more, email firstname.lastname@example.org, or call (866) 776-6426 (toll-free), and we 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 ICS is provided by those Promontory Network members at which the customer’s ICS funds are held in demand deposit accounts or money market deposit accounts, each in an amount less than the standard FDIC insurance they cannot offer ICS at their institutions or become Promontory Network members.