Insured Cash Sweep
Would you like to access multi-million-dollar FDIC protection on your deposits, earn interest, and enjoy flexibility at the same time? Now you can—through ICS®, the Insured Cash Sweep® service. 1
With ICS, you can:
Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.
Save time. Work directly with just Citizens Bank—a bank you know and trust. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
Access funds. Enjoy unlimited withdrawals using the ICS demand option, or make up to six program withdrawals per month using the ICS savings option. Your funds can be placed using either or both ICS options to best match your cash management and liquidity needs.
Learn More About ICS