![]() ![]() Visit for more information regarding FDIC insurance coverage. Receive balance information in your monthly comprehensive statement. Build reserves you can quickly access for expenses or investments. Rest easy, knowing you’re saving automatically. ICS, the Insured Cash Sweep service is a smart, convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits. Keep in mind, you are responsible for monitoring the total amount and insurable capacity of deposits placed both into and outside of the program at City National Bank and at each Program Bank, and for determining the total FDIC insurance coverage for your deposits. Features and Benefits Avoid withdrawal limitations common in savings accounts, while you earn interest. Funds in the CNB Deposit Account are eligible for FDIC insurance coverage up to a total of $250,000 per depositor held in the same insurable capacity, taking into consideration any other accounts you may already have with City National in the same insurable capacity in and outside of the deposit sweep program. Promontory Network’s deposit allocation and sweep services include CDARS®, the Certificate of Deposit Account Registry Service®, for time deposits, ICS®, the Insured Cash Sweep®service, for non-time deposits, and IND®, the Insured Network Deposits®service, for non-time deposits swept to banks primarily by broker-dealers. Up to $10,000,000 for joint ownership accountsįunds in excess of the Program Maximum Deposit Amount will automatically be swept into the CNB Deposit Account.Up to $5,000,000 for single ownership accounts.The Program Maximum Deposit Amount is the aggregate amount of funds that may be swept into Program Deposit Accounts at the Program Banks: City National maximizes your eligibility for deposit insurance by systematically allocating cash across many Program Banks. With Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS), you can extend your FDIC insurance while still enjoying the. Minimize borrowing and interest expenses while efficiently managing your line of credit. The Expanded Bank Deposit Sweep consists of interest-bearing deposit accounts at up to five banks including affiliated and unaffiliated banks. ![]() A competitive rate and improved liquidity.Ĭash balances in excess of your pre-determined target balance (minimum $25,000) will be swept to a network of participating Program Banks that are members of the FDIC. Benefits Automate your cash management decisions. SAN DIEGO, Ma- ( BUSINESS WIRE )- Axos Bank provides its Insured Cash Sweep (ICS) program, which offers multimillion-dollar FDIC insurance coverage and peace of mind to. ![]()
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