Jump to Content
ABA: The American Bankers Association

IntraFi Network: Insured Network Deposits Service®, or IND®


Provider: IntraFi Network

IND is the industry’s leading deposit sweep service. IND funding comes from cash that is swept into banks from millions of brokerage accounts across the nation; therefore, the funding is both geographically diverse and relatively stable.

The IND service enables financial institutions to access uncollateralized, floating-rate funding in amounts ranging from $25 million to multiple billions of dollars for terms of one to five years or more. The large majority of these deposits can be classified as money market deposit account (MMDA) deposits on a bank’s Call Report and, thus, are not subject to reserves.

Banks select a target balance amount and IntraFi Network works in accordance with its agreement with the bank to allocate customer funds to achieve average daily balances consistent with the target balance amount. Pricing, which includes all settlement fees, is typically a set spread over the Federal Funds Effective Rate or one-month LIBOR, to be replaced with SOFR (secured overnight financing rate). There are no hidden costs. Many banks compare this type of funding to issuing a multi-year, floating-rate CD.

Banks settle on a daily basis, but do not pay settlement fees; the total cost of funds is the rate agreed upon with IntraFi Network. The movement of funds between broker-dealers and banks is settled through IND's settlement bank – The Bank of New York Mellon. Participating banks account for IND balances on an “omnibus” level. Individual client records are maintained and managed by the broker-dealer

IND may be appropriate for any financial institution seeking to diversify funding sources or to acquire large, relatively stable funding blocks ($25 million to billions of dollars) for the long term.


With IND, financial institutions can work with an industry leader to:

  • Diversify funding sources – Receive a large block of cost-effective deposit funding
  • Manage long-term liquidity – Access a stable source of funding
  • Avoid administrative hassles – Requires no set-up fees and minimal account management

IND, Insured Network Deposits, Insured Cash Sweep, and CDARS are registered service marks of IntraFi Network.


Useful Links

Our Due Diligence

Our mission is to meet ABA members' needs through product evaluations and vendor due diligence.

Customer Support

Not sure where to start? Call us for any question, and we'll help you resolve your question or get to the right person.