Insured Cash Sweep®
Keep your funds
secure without limiting your account access.
A secure, convenient way to access large deposits.
Our Insured Cash Sweep (ICS) service gives you access to multi-million dollar FDIC insurance through a single bank relationship.
Features
Large deposits are divided into amounts under the standard FDIC insurance maximum of $250,000, and then placed in deposit accounts within other ICS Network banks.
Access ICS account balance and transactions history through business online banking (for business accounts only).
Receive a combined statement of your deposit account and your ICS account.
Benefits
Peace of mind knowing your funds are eligible for protection beyond $250,000 and will be backed by the faith and credit of the federal government.
Convenience — no need to track, manage multiple bank relationships or consolidate bank statements.
Flexibility to withdraw money when you need it. Access funds from your deposit account and the system will automatically pull needed funds from your linked ICS account. Excess funds over the threshold you set on your account will be automatically transferred to ICS.
Ready to take the next step? We're here to help!
Contact our Cash Management Team to learn more about how Northern Bank can help you realize your goals and dreams.