Carolina Alliance is excited to offer a convenient way where customers can earn a return and access multi-million dollar FDIC protection on large deposits through Insured Cash Sweeps (ISC ). As always, please contact your banker or email us at info@CarolinaAllianceBank.com with any questions.
How Does ICS Work?
When Carolina Alliance places funds for you using ICS, your deposit is sent from your transaction account into deposit accounts at other ICS network banks in amounts below the standard FDIC insurance maximum ($250,000). This makes your funds eligible for FDIC protection. As a result, you can access FDIC insurance coverage from many institutions while working directly with just us and our bankers, which you already know and trust. It’s that easy.
With the ICS service, you can:
- Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into checking and money market accounts.
- Enjoy peace of mind. Your ICS funds are eligible for multi-million- dollar FDIC insurance.
- Save time. Work directly with just Carolina Alliance.
- Enjoy flexibility. Enjoy full liquidity through unlimited program withdrawals using the ICS demand option, or access funds by making up to six program withdrawals per month using the ICS savings option.
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