Volatility Does Not Mean the End of Opportunity
Offer your customers access to multi-million-dollar FDIC insurance on large cash deposits
Thousands of banks across the country offer ICS®, or the Insured Cash Sweep® service, and CDARS®, providing customers with access to multi-million-dollar FDIC insurance on large deposits placed into demand deposit accounts, money market deposit accounts, and CDs. Customers work directly with a single bank and can
- Enjoy peace of mind
Customers can keep principal and interest safe with access to multi-million-dollar FDIC protection. No one has ever lost a penny of FDIC-insured deposits. And, unlike prime money market mutual funds, Insured Cash Sweep deposits are not subject to floating net asset values, liquidity fees, or liquidity gates. The same is true for CDARS deposits.
- Save time
Access to multi-million dollar FDIC insurance through a single bank relationship offers customers great time savings. No more managing multiple bank relationships to keep funds safe.
- Access funds
With ICS, customers enjoy unlimited withdrawals on demand deposit accounts, or up to six program withdrawals per month with money market deposit accounts. With CDARS, customers may select from a range of maturities.
A Win-Win for Your Customers and Your Bank
While your customers will appreciate the benefits of using ICS and CDARS, your bank will, too. ICS and CDARS are brought to you by Promontory Interfinancial Network, a company that offers all-weather balance sheet and liquidity management tools to enhance banks' profitability. Thousands of banks choose the company’s services, whether seeking core or brokered deposits, retail or wholesale funding, fixed- or floating-rate pricing, overnight or term options, or millions or billions of dollars. The company’s services help banks to
- grow high-value customer relationships regardless of liquidity position by offering access to multi-million-dollar FDIC insurance—keep underlying deposits on balance sheet or sell the deposits (just the underlying funds, not the customer relationship) for fee income (with flexibility to switch back and forth)
- replace higher-cost funding
- reduce collateralization
We're Here to Help
For more information about Promontory Network services, or to get started, contact your Managing Directors in Texas for more information or assistance at (866) 776-6426. For North Texas, contact Chuck McBrayer at ext. 3432 or email@example.com. For Southern Texas, contact Chris Ely at ext. 5907 or firstname.lastname@example.org.
Alternatively, contact one of our Treasury Desk professionals at ext. 8553 or email@example.com.
Use of the ICS and CDARS services is subject to the terms, conditions, and disclosures set forth in the applicable program agreements, including the CDARS-ICS Participating Institution Agreement and applicable Deposit Placement Agreement. Limits apply, and customer eligibility criteria may apply. ICS program withdrawals are limited to six per month when using the ICS savings option. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.