How ICS and CDARS Work

When you have deposits at a single bank in a single ownership capacity, then you have access to up to $250,000 in FDIC insurance at that bank. But by using ICS®, the Insured Cash Sweep® service, and CDARS®, you can access multi-million-dollar FDIC protection by working directly with just one bank that offers ICS and/or CDARS.

Financial institutions that offer Insured Cash Sweep and/or CDARS are members of the ICS Network and/or the CDARS Network. When you place a large deposit with your bank using ICS or CDARS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and is placed in deposit accounts at other ICS Network or CDARS Network banks. Funds are placed into demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or into CDs using CDARS. By placing your funds in increments below the standard FDIC insurance maximum of $250,000, both principal and interest are eligible for FDIC insurance.

By working directly with just your bank (an ICS Network and/or CDARS Network member), you can access FDIC coverage from many. And you can enjoy the convenience of receiving one monthly statement per service or service option from your bank.


When you're ready to take advantage of Insured Cash Sweep and/or CDARS, there are five easy steps to get started.

ICS CDARS Works Table

Placement of customer funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures set forth in the agreements that a participating institution’s customer enters into with that institution, including the 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.
If you are subject to restrictions with respect to the placement of funds in depository institutions, it is your responsibility to determine whether the placement of funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.
ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

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