CDARS and ICS

Earn a Return and Enjoy Flexibility

ICS®, or the Insured Cash Sweep® service, and CDARS® are smart, secure, and convenient ways for large depositors of all types to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.

Through just one bank relationship with us, you can access coverage from many. And you receive just one regular statement for each service utilized.

 


 

How Do They Work?

ICS®

With ICS®, your funds are placed into demand deposit (for daily flexibility) or money market deposit (up to six withdrawals/month) accounts. An online portal is available to monitor balances and transactions.

CDARS®

With CDARS®, funds are allocated across several FDIC insured banks in CDs ranging from 13 weeks to 5 years.

Protected Funds

Make funds eligible for protection beyond $250,000 that is backed by the full faith and credit of the federal government. No one has ever lost a penny of FDIC insured deposits.

Earned Interest

Put excess cash balances to work by placing funds into demand deposit or money market deposit accounts (through ICS®) and/or CDs (through CDARS®) at rates to which you agree with us.

Saves Time

Work directly with us―a bank you know and trust―to access multi-million-dollar FDIC insurance, and say ‘goodbye’ to tracking collateral on an ongoing basis, managing multiple bank relationships, manually consolidating bank statements, and other time-consuming workarounds.

Community Reinvestment

Feel good knowing that the full amount of funds placed through ICS® and/or CDARS® can support local lending opportunities that build a stronger community. Both ICS® and CDARS® will work with other like-minded banks; your investment will still support our mission and values.

 


 

Need Help?

Contact your Client & Treasury Manager directly or at treasurysupport@beneficialstate.com