Through Insured Cash Sweep® service (ICS®), Traditional Bank can provide clients access to multi-million-dollar FDIC protection. Traditional Bank uses the ICS® service to place your funds into demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or both, at other FDIC-insured member institutions.
With ICS® you can secure your large deposits while maintaining access to funds. Plus, have the potential to earn interest on funds placed into demand deposit accounts or money market deposit accounts. The placement of your funds occurs in increments below the standard FDIC insurance maximum of $250,000, so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can access insurance coverage from many. And, you receive just one regular, monthly account statement for each service option.
For more information contact Jordan Parket at 859.263.2801