ICS and CDARS Are Smart Choices

With the ICS® and CDARS® services, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meet your needs for safety, convenience, returns, and access to funds.

Put excess cash balances to work in demand deposit accounts (with the ICS demand option), money market deposit accounts (with the ICS savings option), or in CDs (with CDARS)—all interest-bearing deposits with access to multi-million-dollar FDIC insurance through a single bank relationship. Protecting your deposits while earning a return—now that’s smart.

Enjoy Peace of Mind

Rest assured knowing that your funds are eligible for multi-million-dollar FDIC insurance protection that’s backed by the full faith and credit of the federal government. No one has ever lost a penny of an FDIC-insured deposit.

Save Time

Work directly with a Network member bank to access multi-million-dollar FDIC insurance, and forego the need to use repo sweeps, to track collateral on an ongoing basis, or to manage multiple bank relationships.

Earn Interest

With ICS, funds can be placed into demand deposit accounts, money market deposit accounts, or both. With CDARS, funds are placed into CDs.1 Earn one interest rate for each ICS option and for each CD maturity.

Access Funds

With ICS, enjoy unlimited withdrawals using the demand option, or up to six program withdrawals per month using the savings option. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).

Support Your Community

Feel good knowing that the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build a stronger community.2

Public Funds
Good for the Community
How They Work

[1] One interest rate per CD maturity when using CDARS.
[2] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Promontory Network, a bank can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositors’ consent, and if authorized under state law, a bank may choose to receive fee income instead of deposits from the banks. Under these circumstances, deposited funds would not be available for local lending.

Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network,  LLC.