ICS® and CDARS®: Smart Cash Management
Place funds into money market deposit accounts (with six program withdrawals per month) using the IntraFi® Cash Service (ICS).
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The Certificate of Deposit Account Registry Service® (CDARS) lets you put excess cash balances to work in CDs with a range of maturities:
As a provider of ICS and CDARS, Brentwood Bank is part of a special network. When we place your deposit through ICS or CDARS, that deposit is divided into amounts under the standard FDIC deposit insurance maximum of $250,000 and is placed in deposit accounts at multiple banks.1 As a result, you can access coverage from many institutions while working directly with just one.
You communicate with the Brentwood Bank service team. And you receive one monthly statement for each service or service option in which you participate. As always, your confidential information is protected.
1. Deposits are placed in money market deposit accounts when using ICS, or CDs when using CDARS.
2. If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.
3. When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the IntraFi network, we 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 depositor's consent to certain types of ICS or CDARS transactions, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.