Insured Cash Sweep | Business Banking Solutions CT | Ion Bank

Does your account balance exceed $250,000?

Insurance Cash Sweep (ICS) is an automated, flexible and convenient deposit solution that allows you to earn interest income and receive extended FDIC insurance coverage on your excess balances. Depositing a large amount using ICS places your money into a money market account that’s still accessible as needed.

Although your funds are being deposited at Ion Bank, we place the money in different interest-bearing savings accounts at other in-network FDIC-insured banks. As such, the amount in each account remains below the $250,000 FDIC limit.

modern business meeting

A safe business account option.

Insured Cash Sweep provides peace of mind your funds are secure.

To learn more about Insured Cash Sweep, contact Ion Bank today!