Your large deposits could be working smarter…staying protected and earning money. 

You’ve certainly heard some variation of the cliché “make your money work for you.” It permeates marketing efforts across industries, makes a catchy headline and speaks to our desires to be not just successful, but also thriving.

For business owners, advisors, managers or even stewards of public funds, that’s especially true. These large depositors often have funds sitting in business accounts that earn zero interest or exceed the protection of the FDIC. Put simply, these large deposits could be doing much more. They could be working smarter…staying protected and earning money.

For the longest time—and still for many large depositors—finding the solution to earning more interest without sacrificing security and operational efficiency hasn’t been easy. The idea of creating and maintaining several bank relationships, choosing interest-earning accounts and handling dozens of statements isn’t motivating.

Continue reading to find out:

  • What the Insured Cash Sweep (ICS) is?
  • How Insured Cash Sweep (ICS) works
  • How to earn more interest on your deposit
  • How to protect your deposit
  • How to make your advanced money management simple

Enter ICS, the Insured Cash Sweep service.

One attractive cash management option is the Insured Cash Sweep service offered by many banks. ICS provides protection for funds beyond the $250,000 FDIC maximum. With a bank in the ICS network monitoring your funds, cash in the transaction account over $250,000 is “swept” into one or more FDIC-insured deposit accounts at other ICS network financial institutions.

Those deposit accounts remain at or under the $250,000 FDIC threshold. That means all your funds in an ICS-connected account are eligible for FDIC insurance. Also, because sweep accounts maintain liquidity, cash can be swept back into the primary account if needed.

This makes ICS a simple solution to earn interest on your deposits and protect them as well. Plus, as a cash management tool, it doesn’t get much simpler than a sweep account. Note: Additional terms and conditions may apply.

Keeping it smart and simple.

Regular monthly statements from your primary bank—where you established your ICS service help to keep advanced money management simple for your operational efficiency. There’s no need to track collateral on an ongoing basis, footnote uninsured deposits, manage multiple banking relationships or manually consolidate bank statements. This can make it a fantastic time-saver.

Here’s more good news: ICS isn’t only for business. Public funds for local governments, schools, police departments, hospitals utilities, court-supervised funds, personal accounts and more can use the ICS service with the right bank.

Finding a relationship with an ICS member institution can be quick and easy—simply visit and search by state. The American Bankers Association also endorses ICS, citing how it helps banks attract large-dollar deposits that can be used for lending in their local communities.

Why let your excess money sit idle in a single account that may not be backed by the full faith of the U.S. government, earning little or no interest! With the Insured Cash Sweep service, you make your money work smarter for you.

Banc of California Insured Cash Sweeps Article

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Find out more about the benefits of Insured Cash Sweeps.

To learn how we can help you, contact our Specialty Banking Professional:


SCOTT KUNITZ is the Senior Director and Market Executive of the Legal, Fiduciary and Government Banking Groups at Banc of California (an ICS Network bank). These views belong exclusively to Scott Kunitz and are not necessarily the views of Banc of California.

Scott Kunitz

Scott Kunitz

Senior Director, Market Executive
Specialty Banking

Phone: 424-501-1579


Learn more ways to protect your business:

These views belong exclusively to the author(s) and are not necessarily the views of Banc of California.