ICS
Insured Cash Sweep
Would you
like access to multi-million-dollar FDIC protection on your
deposits? Earn
interest at the same time?
Have the ability to withdraw those funds?
Now you can - through
our ICS (Insured Cash Sweep) service*.
ICS, the Insured Cash Sweep service at County National Bank, is a smart, secure, and convenient way to safeguard your large deposits. You do not have to choose between peace of mind and earning a return on your money - you can have both with ICS. You can choose a demand option, a savings option, or both to best match your cash management needs, and:
-
Earn interest on ICS funds
placed into demand deposit accounts using the
demand option or money market deposit accounts using the
savings option.
-
Enjoy peace of mind knowing
your ICS funds are eligible for multi-million-dollar
FDIC insurance.
- Access funds.
-
Enjoy liquidity - the ICS
demand option offers unlimited program withdrawals and
the ICS savings option offers up to six program withdrawals
each month.
How does
ICS work? You
work directly with just CNB, a bank you already know and
trust, and you can receive coverage through many.
Once ICS is set up for your new or existing checking
or other transaction account at CNB, deposits are sent to
other banks in the ICS network in amounts under $250,000.
You can see exactly where your funds are placed by
using online tools specially developed for ICS.
You'll receive just one monthly statement from CNB
summarizing your account activity and balances across
institutions. As
always, your confidential information remains protected.
Who can benefit from ICS?
Businesses,
municipalities, public funds, small colleges, nonprofits,
and other large-dollar depositors can place funds through
ICS. Contact us
and safely put your money to work!
*Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement with County National Bank. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month.
