

Insured Cash Sweep (ICS) Service *
Access FDIC insurance on deposits larger than $250,000
We understand that our customers want to feel confident that their large deposits are secure, easily accessible, and earning a competitive return. That's why we offer the Insured Cash Sweep (ICS) service, a smart and convenient way to access multi-million-dollar FDIC protection.
With an ICS account, you can:
- Feel secure in the knowledge that even large deposits are eligible for protection backed by the full faith and credit of the federal government, giving you peace of mind.
- Put your excess cash balances to work and earn interest by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts.
- Save time and hassle by working directly with us, City National Bank of Florida - a bank that you know and trust. Avoid opening accounts under different insurable capacities or managing multiple bank relationships. You'll receive just one monthly statement from us summarizing your account activity and balances and one statement from Bank of New York Mellon showing your FDIC insurance coverage.
- Enjoy the flexibility of accessing your funds easily and quickly. There are two options you can use individually or mix to best fit your financial needs. Get unlimited withdrawals through the ICS demand option, or choose the ICS MMDA/Savings option, which allows for up to six withdrawals per month.
When you deposit funds into an ICS account at City National Bank of Florida, we place your funds into deposit accounts at other FDIC-insured banks within the ICS network. Your funds are divided into amounts under the FDIC insurance limit at each bank in the network, allowing you to access FDIC insurance coverage on the full amount of your deposit. We act as the custodian of your funds and provides you with a single monthly statement summarizing your account activity and balances.