How IntraFi Network Deposits Give You Access to Multi-Million Dollar FDIC Insurance
Are you looking for increased earnings potential while keeping your bank deposits safe? With IntraFi® Network Deposits, you can access multi-million-dollar FDIC insurance and earn interest, all through a single bank relationship.
INTRAFI® is a nationwide network of over 3,000 banks that allows you to spread your funds across multiple certificates of deposit (CDARS®) and checking and money market accounts (ICS®), all managed under one umbrella at your local bank and insured by the FDIC.
ICS® (Insured Cash Sweep) is a helpful cash management option designed to maximize FDIC insurance coverage on large deposits. When you opt for an Insured Cash Sweep account your funds from your checking or money market accounts are strategically divided into smaller amounts and allocated to other member banks, ensuring they stay within the coverage limit.
CDARS® (Certificate of Deposit Account Registry Service) is another option that provides FDIC insurance coverage on large CD deposits. Like Insured Cash Sweep accounts, funds are divided up and placed into certificates of deposit at other member banks and stay under the FDIC coverage limit.
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The best part is that with these products, you only work with one local bank that handles the placement of your funds into member banks, eliminating the need for multiple accounts in different banks.
Also, if your organization mandates all of your deposits be insured, you'll find significant benefits with CDARS® and ICS®. Nonprofit organizations, municipalities, and government entities can use these programs to comply.
So why should you consider ICS® and CDARS®? These services offer a low-risk investment option and FDIC insurance coverage. These programs eliminate the need for multiple bank accounts and allow you to securely invest large amounts of cash. And by choosing a local community bank, you can rest easy knowing your funds are eligible for multi-million-dollar FDIC insurance while enjoying the convenience of working directly with a bank you know and trust.
Feel free to reach out if you want more information or have any questions. We're here to help! Call us at 405-608-4500 in Oklahoma City, 405-561-0300 in Norman or 469-389-3660 in Dallas/Fort Worth.