This site uses cookies to improve your browsing experience, gather site analytics and activity, track shopping cart contents, and deliver relevant marketing information.
View our privacy policy and manage your settings here. By using our site you agree to these terms.

Promontory Interfinancial Network: Insured Cash Sweep Service (ICS)

"Our public funds customers appreciate knowing that when they place their funds through ICS, those funds are eligible for FDIC protection beyond $250,000 and earn interest. That benefits them, as well as local taxpayers, as our bank can make those funds available for investment within the community."
 – Mario Martinez, President, Catskill Hudson Bank

Promontory Interfinancial Network, LLC ("Promontory Network") provides smart, innovative solutions that enhance the profitability of banks and other financial institutions. By using Promontory Network's ICS, CDARS®, IND®, and Bank Assetpoint® services, financial institutions can build profitable, million-dollar relationships; manage their balance sheets; purchase cost-effective funding; and sell or buy bank assets.

Market Profile
ICS is offered in all 50 states, the District of Columbia, Puerto Rico, and Guam. Approximately 3,000 financial institutions are members of the Promontory Network.​​​​​​​​​​​​





®, the Insured Cash Sweep® Service

About ICS
With ICS, the Insured Cash Sweep service, Promontory Network members can offer access to multi-million-dollar FDIC insurance so that they can attract and retain large-dollar customers, replace higher-cost funding, and reduce collateralization.

When a customer places a large deposit with a Promontory Network member, that institution uses the ICS service to place the funds at other FDIC-insured member institutions in demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or both.

The placement of customer funds occurs in increments below the standard FDIC insurance maximum of $250,000 so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, a customer can access insurance coverage from many. And the customer receives one monthly account statement from the relationship bank for each ICS service option utilized.

"We enjoy being able to replace repos and letters of credit, as well as reducing our need for collateral, with ICS and CDARS." 

- Chris Huss, Capital Markets Director, CoBiz Bank

Learn more at:




Promontory Interfinancial Network is the leading provider of FDIC-insured deposit placement services. It offers ABA-endorsed Insured Cash Sweep®, CDARS®,  IND®, and Bank Assetpoint®. These services enable banks and other financial institutions to work together to build loyal, large-dollar relationships by offering access to multi-million-dollar FDIC insurance; to replace higher-cost funding and/or repurpose collateral; to manage liquidity; to buy and sell funding; and to connect with buyers and sellers of bank assets.​

See more about Promontory Interfinancial Network





​ICS can help participating banks to:​
  • Compete head-on with the largest financial institutions
  • Feature access to significantly higher levels of FDIC coverage than banks of any size can offer on their own
  • Improve margins and asset liquidity by reducing ongoing collateralization requirements
Operationally, ICS:
  • Offers true reciprocal funding
  • Gives member banks the flexibility to set the rates their customers receive
  • Does not require member banks to manually track customer withdrawals
  • Does not require member banks to secure large-dollar deposits and track collateral values on an ongoing basis
  • Does not lead to the sharing of a relationship bank’s customer information with other banks (except for the custodian)

All of this makes ICS more convenient than other deposit sweep services.  

Use of the ICS service is subject to the terms, conditions, and disclosures set forth in the ICS agreements, including the ICS Participating Institution Agreement and the ICS Deposit Placement Agreement. Limits and customer eligibility criteria apply. ICS program withdrawals are limited to six per month when using the ICS savings option. Insured Cash Sweep, ICS, ​CDARS, IND, and Bank Assetpoint are registered service marks of Promontory Interfinancial Network, LLC.​​​​​




Promontory Interfinancial Network Regional Meetings Address Bank Deposits and Funding Strategies

Winning the Battle for Deposits and Beyond: Is Your Balance Sheet Ready for 2019?

Join Promontory Interfinancial Network for a FREE, one-day meeting. We will examine the changing landscape of bank deposits and funding strategies. Come to learn about trends, strategies, and solutions that could have a significant impact on your financial institution and enjoy an opportunity to work with your peers and discuss best practices. Industry expert Dave Koch of FARIN Financial Risk Management will join us as a presenter.

These one-day regional meetings are being held in the following cities in October – November.
  • Kansas City, MO
  • Dallas, TX
  • New Orleans, LA
  • Chicago, IL
Seating is limited. Learn more and register today to claim your spot and a peer-based risk analysis! ​

ABA Endorsed Solutions by Promontory Network

  • CDARS, the Certificate of Deposit Account Registry Service®
  • IND, the Insured Network Deposits® Service
  • Bank Assetpoint

Free S. 2155 White Paper:




ABA Contact

Promontory Interfinancial Network Contact



 Due Diligence Report


Due diligence reports  are currently available on select solutions and for bank members only.
Get Report.

 Learn About Endorsed Solutions


In a rapidly changing landscape, banks turn to the proven expertise of ABA Endorsed Solutions for the most advanced technologies and products to grow their business, cut costs, and transform the customer experience.

Questions? Please contact Jackie Lucas for more information.