ICS®, the Insured Cash Sweep® service, is a smart, secure, and convenient way for our business customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility. Click on the link below to learn more about how ICS works or talk to one of our local, trusted experts to get further details about this excellent opportunity.
Business Insured Cash Sweep (ICS)
With the ICS service, you can:
- Rest assured. Make even large deposits eligible for FDIC protection that’s backed by the full faith and credit of the federal government.
- Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.
- Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
- Access funds. Enjoy unlimited withdrawals using the ICS demand option, or make up to six program withdrawals per month using the ICS savings option. Your funds can be placed using either or both ICS options to best match your cash management and liquidity needs