Insured Cash Sweep
ICS®, the Insured Cash Sweep® service, offers peace of mind that comes with access to multi-million-dollar FDIC insurance for funds placed into demand deposit accounts, money market deposit accounts, or both. Plus, you can earn a return and maintain access to funds. Enjoy it all while working directly with just our bank.
Disclaimer = Homestead Savings Bank, Member FDIC. Placement of funds through the ICS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS settlement for a deposit or after ICS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS satisfies those restrictions. ICS and Insured Cash Sweep are registered service marks of Promontory International Network, LLC.
