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ICS

 

Insured Cash Sweep (ICS)

Enjoy peace of mind.  Feel good knowing that your funds are eligible for protection that's backed by the full faith and credit of the federal government.

Earn interest.  Put excess cash balances to work in interest-bearing savings accounts (money market deposit accounts).

Access funds.  Withdraw ICS funds up to six times per month.

Rest assured.  Know that your money is always on deposit in regulated, FDIC - insured institutions and that you can check balances and other information online, 24 hours a day, seven days a week.

Save time.   Work directly with your financial institution - the people you trust.

What is ICS?

Through our new ICS (or Insured Cash Sweep) service, you can earn interest and access multi-million
dollar FDIC protection on your large savings deposits.
How does ICS work?



What else should I know?

As always, your confidential information remains proteced.  If you are a CDARS® customer at our bank, and we place funds for you both through CDARS® and through ICS under the same tax identification number, the ICS system is programmed to recognize your existing CDARS® placements and exclusions maintained by us.  Online tools allow you to verify that your funds are not being placed in institutions you have excluded.  (Note that different tax identification numbers do not guarantee different insurable capacities.)
If you already have an ICS account with Valley Bank,  you can access your statements by clicking on the link below:
www.depositorcontrol.com



Placement of your 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. CDARS is a registered service mark of Promontory Interfinancial Network, LLC.