The agreement contains important information and conditions regarding the placement of funds by us. Thats why we offer the Insured Cash Sweep (ICS) service, a smart and convenient way to access multi-million-dollar FDIC protection. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. More information on ICS/CDARS for Municipalities Insured Cash Sweep® (ICS) Secure large deposits in FDIC-insured, interest-earning accounts while still maintaining access to your funds. More information on ICS/CDARS for Businesses The Expanded Bank Deposit Sweep consists of interest-bearing deposit accounts at up to five banks including affiliated and unaffiliated banks. The benefits of one bank, one rate, and one statement can reduce your administrative burdens (especially during tax and financial reporting seasons), providing you with more time to focus on profit-generating activities.Īs always, your confidential account information remains protected. Certificate of Deposit Account Registry Service (CDARS) and Insured Cash Sweep (ICS) are smart, convenient cash management or longer-term investment tools. 2 With the demand and savings products, you identify an existing transaction account (or set up a new one) to be used with each option chosen. 1 You sign a DPA (Deposit Placement Agreement) and a custodial agreement.
There is also no need to manually consolidate account statements or internal disbursements. How do ICS and CDARS Work Watch on Getting started with IntraFi Network Deposits in 5 easy steps. You will receive one easy-to-read statement from GRB summarizing all of your CD and/or Money Market holdings. Your deposits are sent to interest-bearing money. To get started, open or use your existing non-interest-bearing Apple Bank checking account, sign the agreements and deposit your funds. You will negotiate one rate with GRB for each CD maturity and enjoy the option of reinvesting funds through a simple process. The ICS program enables investors to access multi-million dollar FDIC insurance protection on large savings deposits, while earning a competitive interest rate. As always, confidential account information remains protected. While your CDARS or ICS deposits will be placed through many banks, you only have to work directly with one bank, GRB. You can ladder CDs or combine maturities to create the equivalent of a customized term. CDARS (CD Account Registry Service) – Certificates of Deposit with a wide range of maturities to choose from (four weeks to five years), allowing you to choose the term that best serves your investment needs.ICS (Insured Cash Sweep) – A Money Market account for more liquid savings. Funds can be withdrawn up to 6 times per month along with unlimited deposits (as long as you stay within the program withdrawal limits).
0 kommentar(er)
