INTRAFI CASH SERVICES
With ICS®, the IntraFi Cash Service®, you can work directly with just our bank to access millions of dollars in aggregate FDIC insurance across network banks.
Note: A list identifying IntraFi® network banks can be found at www.IntraFi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply.
With ICS, you can:
Rest assured. Know that deposits well into the millions are eligible for aggregate FDIC insurance protection across network banks. Market volatility will not negatively impact principal because deposit accounts are not subject to floating net asset values.
Earn interest. Put cash balances to work. Interest may compare favorably to Treasuries.
Keep it simple. Avoid opening multiple accounts with multiple institutions to protect your funds. Forego the need to use repo sweeps, track collateral on an ongoing basis, and manually consolidate statements and disbursements from multiple banks.
Manage liquidity. Enjoy access to funds placed into demand deposit accounts and money market deposit accounts.
Support your community. Feel good knowing that the full amount of funds placed through ICS can stay local to support lending opportunities that build a stronger community.1
How does ICS Work?
Through just one bank relationship, you can access FDIC insurance from many.
The depositor must have or set up a transition account for the use of ICS. If the depositor chooses to place funds in both DDAs and MMDAs, the depositor will need to have a separate transaction account for each.
How does ICS Work?
1. When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS, our bank can use the full amount of a deposit placed through ICS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.
Deposit placement through ICS is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through ICS at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using ICS are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. IntraFi, ICS, and IntraFi Cash Service are registered service marks of IntraFi LLC.