Would you like to access multi-million-dollar FDIC protection on your deposits? You can on deposits placed in money market deposit accounts through Insured Cash Sweep®, and in CDs through CDARS®—both offered at BankVista. (Limits, terms, and conditions apply.) To learn more, contact us. 

DETAILS

With ICS and CDARS, you can:

Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

Earn interest. Ask us about the returns you can earn. With ICS, funds can be placed into, money market deposit accounts (using the savings option). With CDARS, funds are placed into CDs. And with ICS and/or CDARS, you enjoy the conveniences of banking directly with us and of earning one interest rate per service option.1

Save time. Work directly with just us—a bank you know and trust—to access multi-million-dollar FDIC insurance, and forego the need to use repo sweeps or to track collateral on an ongoing basis.2

Access funds. With ICS, enjoy up to six program withdrawals per month using the savings option. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).

Support Your Community. Feel good knowing that the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build a stronger community.2

[1] One interest rate per CD maturity when using CDARS. 

[2] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Promontory Network, a bank can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositors’ consent, and if authorized under state law, a bank may choose to receive fee income instead of deposits from the banks. Under these circumstances, deposited funds would not be available for local lending.

BankVista, NA, Member FDIC. Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

Insured Cash Sweep and CDARS are registered service marks of Promontory Interfinancial Network, LLC.
© 2017 Promontory Interfinancial Network, LLC