Make the most of your coverage.
The Federal Deposit Insurance Corporation (FDIC) protects deposits in insured banks up to $250,000 per depositor for each ownership category at each insured bank.
To understand how insurance rules and limits apply to your specific group of deposit accounts, use the FDIC Electronic Deposit Insurance Estimator (EDIE) found here:
FDIC Insurance over the $250,000 Maximum1
Bank of Weston offers safe and simple solutions to access millions of dollars in aggregate FDIC insurance across network banks through Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS). Both ICS and CDARS allow you to access all of your funds at one financial institution offering FDIC insurance above the $250,000 maximum.
How to sign up:
Simply sign a Deposit Placement Agreement and we will handle the rest.
The Bank of Weston is a member of the IntraFi network of financial institutions. When we place your deposit through the ICS or CDARS service, it is divided into discrete amounts below the standard FDIC insurance maximum of $250,000. These incremental amounts are placed in demand deposit accounts (ICS service) or CDs (CDARS service) at other network banks, each an FDIC insured institution. Each individual deposit is thereby covered under the FDIC maximum which in aggregate sums to full FDIC coverage of your original deposit.
Keeping track of these discrete deposits is easy. You’ll have access to IntraFi’s Depositor Control Panel which gives you real-time access to track these deposits, exclude IntraFi network banks, and pull statements.
With access to millions in FDIC coverage, the ICS and CDARs services make securing your funds safe and simple by eliminating the need to manage relationships with multiple banking institutions.
How do IntraFi Network Deposits Work?
1 Placement of your funds through the ICS service or CDARS service is subject to the terms, conditions, and disclosures set forth in the ICS Deposit Placement Agreement, CDARS Deposit Placement Agreement, and custodial agreement.
Insured Cash Sweep, ICS, Certificate of Deposit Account Registry Service, and CDARS are registered service marks of IntraFi Network, LLC.
