CCNB Offers ICS® – Insured Cash Sweep® - My CCNB

CCNB Offers ICS® – Insured Cash Sweep®

CCNB now offers top-tier customers ICS, the Insured Cash Sweep Service.

With ICS you can access multi-million-dollar FDIC insurance, earn interest on large deposits placed into money market deposit accounts and maintain access to your funds, all through one bank you already know and trust.

ICS, the Insured Cash Sweep service, is a smart, secure, and convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits and earn a return. ICS can even be used for public funds.

With this service you can:

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

Save time.
Work directly with one bank — CCNB – and forego opening accounts under different insurable capacities or managing multiple bank relationships. And, if you are accustomed to collateralization, this reduces the need to track collateral on an ongoing basis.

Earn interest.
Put excess cash balances to work interest-bearing accounts (money market deposit accounts). Enjoy daily liquidity in your transaction account at our bank and withdraw ICS funds up to six times per month.

That’s smart.
Want more details? Click the link below to request information, or call (843)839-2265 to speak with a CCNB representative today.

Watch this video to see how ICS works:

Contact Us Today To Learn More!

Watch this video to see how CDARS works:

Contact Us if you’re interested in CDARS.

 

Placement of funds through the ICS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria 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 settlement for a deposit or after ICS 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 the placement of its funds, the depositor is responsible for determining whether its use of ICS satisfies those restrictions. ICS, Insured Cash Sweep, and Bank Safe Bank Smart are registered service marks of Promontory Interfinancial Network, LLC.