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ICS/Intrafi

Maximize Your FDIC Protection with ICS Accounts

A seamless solution to ensure your funds remain secure, accessible, and fully insured across multiple institutions.

How do ICS/Sweep accounts work and why would I need one?

Institutions, like ours, that offer ICS/Sweep solutions are members of the IntraFi network. When we place your funds through the ICS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in demand deposit accounts or money market deposit accounts (using ICS), at multiple banks. As a result, you enjoy coverage from many institutions while working directly with just one. You receive one regular statement from our bank for each service in which you participate, and, as always, your confidential information is protected.

Benefits of an ICS Account

Full FDIC Coverage

Your deposits are insured beyond $250,000 by spreading them across multiple institutions.

Simplified Management

Receive one comprehensive statement while maintaining easy access to all your funds.

Trusted Network

Funds are placed only in FDIC-insured institutions through the IntraFi network.

Flexible Access

Your funds remain accessible when you need them.

Earn Interest

Enjoy competitive interest rates on your funds, paid monthly.

Increased Security

With deposits spread across multiple trusted institutions, your risk of loss due to a bank failure is minimized.

Feel confident that funds placed through ICS are deposited only in FDIC-insured institutions. Your relationship bank is Community Bank & Trust-WGA and we act as custodian for the deposits that we place for you. The subcustodian for the deposits is the Bank of New York Mellon (BNY Mellon), the largest custodian in the world with $46.6 trillion in assets under custody and/or administration and $1.9 trillion in assets under management.

Feel confident that funds placed through ICS are deposited only in FDIC-insured institutions. Your relationship bank is Community Bank & Trust-WGA and we act as custodian for the deposits that we place for you. The subcustodian for the deposits is the Bank of New York Mellon (BNY Mellon), the largest custodian in the world with $46.6 trillion in assets under custody and/or administration and $1.9 trillion in assets under management.

Frequently Asked Questions

Insured cash sweep. The FDIC Insurance covers the first $250,000.00 in your account.

Yes, you do. Your funds are still there for you when you need them.

To fully FDIC secure your funds, we ask you to list any financial institutions when you start the ICS account. Then IntraFi will not place your funds in those institutions.

Yes. We disclose the rate as of today when you open the account. That can change as the market in general changes. You receive your interest monthly on those funds.

Yes. Both consumer accounts and business accounts can benefit from an ICS/Sweep account. This is for anyone that wants to ensure that their funds are fully FDIC insured.

Very easy! First, we need to know if the account will be for business or for you personally. Different documentation will be needed depending on how your business is set up (LLC, Corporation, Sole Prop etc.) For personal accounts, all Banks are required to confirm your identity. We will work with you to obtain two valid forms of ID that are acceptable to the Bank.

Please contact Shirley Jones, Vice President  of Retail Banking at sjones@communitybankshares.com, or 706 884-7999.

Get Started Today

Take the first step in securing your deposits with an ICS account.

Open an Account

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