Through Insured Cash Sweep (ICSSM) BankFinancial will spread your money among other member banks, ensuring that your principal and interest never exceeds FDIC insurance limits. You don’t have to open accounts at different banks or read statements from each of those banks. With the ICS service, funds are deposited into interest bearing money markets accounts so they remain liquid.
With the ICS service, you can:
- Earn interest, maximize FDIC protection and maintain liquidity.
- Save time by working directly with just BankFinancial - the bank you know and trust.
Placement of customer funds through the ICS service is subject to the terms, conditions and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement, you enter into with us. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month. ICS and Insured Cash Sweep are service marks of Promontory Interfinancial Network, LLC.