Insured Cash Sweep (ICS)
Through ICS (Insured Cash Sweep) service from Clear Mountain Bank, you can access multi-million-dollar FDIC insurance on savings deposits. In addition to having the security of FDIC insurance — and knowing that your money placed through ICS is always deposited in regulated, FDIC-insured institutions — you can earn interest by placing your excess cash balances to work in savings accounts (money market deposit accounts).
In addition to earning a competitive interest rate, ICS also offers you the flexibility to access your funds by allowing withdrawals from the account up to six times per month. ICS can benefit individuals and organizations that value security and convenience, including businesses, non-profits, and other large-dollar depositors.
- Enjoy peace of mind. Feel good knowing that your funds are eligible for protection that's backed by the full faith and credit of the federal government.
- Earn interest. Put excess cash balances to work in interest-bearing savings accounts (money market deposit accounts).
- Access funds. Withdraw ICS funds up to six times per month.
- Rest assured. Know that your money is always on deposit in regulated, FDIC-insured institutions and that you can see (online) where your funds are at all times.
- Save time. Work directly with Clear Mountain Bank - a bank you know and trust.
To learn more about ICS, contact us or visit www.insuredcashsweep.com