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.
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!