CDARS® & ICS®
Your Money is Well Protected
You work hard for your money. Bank confidently knowing that those hard-earned funds are safe and protected at PSBT. Peoples Security Bank offers CDARS® & ICS® for any eligible accounts that exceed the $250,000 FDIC limit. These two programs would extend FDIC insurance for the full value of your deposits and allow you the peace of mind knowing that funds greater than $250,000 can still be protected by FDIC insurance through a single bank relationship.
About CDARS® (Certificate of Deposit Account Registry Service®)
CDARS® is the easiest and most convenient way to enjoy full FDIC insurance on your CD investment over $250,000. With CDARS®, you gain access to:
- Safety - Be rest assured knowing that your deposits are fully covered by FDIC insurance.
- Convenience - Access multi-million dollar FDIC insurance on CD investments by working directly with PSBT - a bank you know and trust.
- Earn Interest - Lock in an interest rate for each CD maturity and enjoy the option of reinvesting funds through a simple process.
- One Statement - Receive one simple statement summarizing your CDARS® holdings.
About ICS® (Insured Cash Sweep® Service)
ICS® is a smart, secure, and convenient way to safeguard your large deposits. With ICS®, you gain access to:
- Peace of Mind - Enjoy FDIC insurance on your secured deposits over $250,000 with ICS®.
- Convenience - Our goal is making this process easier for our customers while maintaining a single banking relationship with Peoples Security Bank.
- Earn Interest - Put excess cash balances to work by placing funds into accounts covered by ICS®.
- One Statement - You'll receive a regular monthly statement showing your ICS® balances and other key information.
FDIC Insurance Information