Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
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With ICS and CDARS, you can access millions of dollars in aggregate FDIC insurance across network banks by working directly with just our bank.^
^A list identifying IntraFi network banks appears at http://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.
^A list identifying IntraFi network banks appears at http://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.
With the ICS service, you can:
Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
Enjoy liquidity. Make unlimited program withdrawals.
Providence Bank & Trust Account, linked to ICS, Details:
^A list identifying IntraFi network banks appears at http://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.
Would you like to access millions of dollars in aggregate FDIC insurance across network banks on your deposits and earn interest at the same time? Now you can—through ICS, the IntraFi Cash Service.
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 cash balances to work by placing funds into interest earning demand deposit accounts.
Save time. Work directly with just our bank—a bank you know and trust. And reduce the need to track collateral on an ongoing basis, if you are accustomed to collateralization.
Providence Bank & Trust Account, linked to ICS, Details:
Connect with a Cash Management Specialist to Learn More
Important Disclaimer Information:
*For the Providence Bank & Trust Account linked to ICS, a $0.50 fee applies for each item exceeding 300 regardless of balance maintained. Activity charges include: checks paid, deposits, checks deposited, ACH transactions and others.
^A list identifying IntraFi network banks appears at http://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.
With the ICS service, you can:
Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
Earn interest. Put excess cash balances to work in interest-bearing money market deposit accounts.
Manage liquidity. Enjoy access to funds placed into a money market deposit account up to 6 times per month.+
Providence Bank & Trust Account, linked to ICS, Details:
Connect with a Cash Management Specialist to Learn More
Important Disclaimer Information:
+Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone or internet transfers, or by check, draft, debit card, or similar are limited to six per statement cycle. A $15.00 service fee applies for each withdrawal exceeding six.
*For the Providence Bank & Trust Account linked to ICS, a $0.50 fee applies for each item exceeding 300 regardless of balance maintained. Activity charges include: checks paid, deposits, checks deposited, ACH transactions and others.
CDARS offers multiple benefits to investors who want to combine the security of access to FDIC insurance with the convenience of working directly with just one financial institution.^
^A list identifying IntraFi network banks appears at http://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.
Peace of Mind. Using the CDARS service, you can access millions of dollars in aggregate FDIC insurance on CDs across participating network banks.
One Relationship. You work directly with our financial institution.
One Statement. You receive one regular statement detailing your CD investments. You no longer need to manually consolidate statements at the end of each month, quarter, or year.
No Hidden Fees. You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you see is the rate you get.
No Ongoing Collateralization. Because deposits placed through CDARS are eligible for FDIC protection, you can eliminate ongoing collateral tracking.
A Wide Variety of Maturities. Select from various maturities—ranging from 4 weeks, 13 weeks, 26 weeks or 52 weeks—and choose the terms that best suit your investment needs.
Community Investment. The full amount of your funds can support lending initiatives that strengthen your local community.2
The FDIC insures up to $250,000 of a customer’s deposit accounts in a given insurable capacity at an FDIC-insured depository institution. Your ICS and CDARS funds are divided into amounts under the standard FDIC maximum and placed with other IntraFi network banks—each an FDIC-insured institution. By working directly with our bank, you can access FDIC insurance through many.
When placing funds through ICS into demand deposit accounts, you can make unlimited program withdrawals.
When placing funds through ICS into money market deposit accounts, you can make up to six program withdrawals per month.
Funds placed using CDARS may be accessed upon the maturity of the CDs. Early withdrawals may be subject to significant withdrawal penalties.
Funds placed through CDARS and ICS are deposited only in FDIC-insured institutions. We act as custodian for your CDARS and ICS deposits, and BNY Mellon acts as subcustodian for the deposits.
Yes. You can manage your ICS and CDARS accounts online.
For ICS Accounts, through the Depositor Control Panel (DCP), you can check your balances, view where your funds could be placed, review and manage daily processed fund placements, and track monthly program withdrawals, and view your transaction history.
For CDARS Accounts, through the Depositor Control Panel (DCP), you can check current account balance and view statements and notices.
Once you have opened your ICS and/or CDARS account(s), the DCP is available at www.depositorcontrol.com.
You work directly with just us—the bank you know and trust. As always, your confidential information remains protected.
Visit the IntraFi website to learn about the advantages of this deposit program.
Important Disclaimer Information:
1If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.
2When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS or CDARS, our bank can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.
3Limits apply. Funds may be submitted for placement only after client enters into the applicable Deposit Placement Agreement with Providence Bank & Trust. This agreement contains important information and conditions regarding the placement of funds.
4Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an Intra Fi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through an IntraFi service satisfies any restrictions on its deposits. IntraFi, ICS, IntraFi Cash Service, CDARS, and Certificate of Deposit Account Registry Service are registered trademarks of IntraFi LLC.
All trademarks and registered marks are the properties of their respective owners.