CDARS, Certificate of Deposit Account Registry Service, is an effective way to access multi-million-dollar FDIC insurance coverage on your Certificates of Deposit. Everything is handled through Pinnacle Bank. Your large deposit is placed through CDARS, banks within the CDARS Network issue Certificates of Deposit representing the total amount of your deposit. By working directly with one bank – Pinnacle Bank – you can access insurance through many.
Any business, non-profit organization or individual who wants to combine the convenience of working directly with a single bank with the security of FDIC insurance can benefit from CDARS.
Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.
ICS, the Insured Cash Sweep service, allows you to access multi-million-dollar FDIC insurance coverage on savings deposits, earn interest, and periodically withdraw funds. ICS operates much like a standard bank money market account.
All you need to do is set up a checking account, sign the ICS agreements, and deposit your funds. Your funds are then sent to other banks in the ICS Network in amounts below the standard FDIC insurance maximum. By working directly with just Pinnacle Bank, you can access protection through many. Plus you receive one monthly statement.
For more information regarding CDARS and ICS, give us a call at 864.233.6915.
Placement of funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement, that you enter into with us. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month when using the ICS savings option. Insured Cash Sweep is a registered service mark, and ICS is a service mark, of Promontory Interfinancial Network, LLC.