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BciCapital Association Services
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What are ICS and CDARS?

ICS, the Insured Cash Sweep® service, and CDARS, the Certificate of Deposit Account Registry Service®, are smart, convenient ways to safeguard your large deposits. With ICS, your funds are placed into demand deposit accounts, money market deposit accounts, or both. With CDARS, funds are placed into CDs with different maturity dates available.
With the ICS and CDARS services, you can:
  • Enjoy peace of mind knowing your funds are eligible for FDIC insurance
  • Earn interest
  • Save time by working directly with one bank
  • Enjoy flexibility
  • Support your community
Enjoy Peace of Mind
Rest assured knowing that your funds are eligible for FDIC insurance. No depositor has ever lost a penny of FDIC-insured funds. (Statement source
Earn Interest
Earn one interest rate per service option or CD maturity.
Enjoy Flexibility
The ICS demand option offers daily liquidity and allows unlimited withdrawals while the ICS savings option offers up to six program withdrawals each month. CDARS offers multiple maturities, including 4 weeks, 13 weeks, 26 weeks, 1 year, 2 years, 3 years, and 5 years.
Support Your Community
Feel good knowing that the full amount of your funds placed through ICS and/or CDARS will support lending opportunities that build a stronger communities. 


How do ICS and CDARS work?**

Through just one bank relationship, you can access coverage from many. And best of all you’ll receive just one regular statement per service option.
The depositor must have or set up a transaction account for the use of ICS. If the depositor chooses both the ICS savings and ICS demand options, the depositor will need to have a separate transaction account for each. ICS deposits are sent based on triggering events as set forth in the ICS Deposit Placement Agreement you enter into with our bank. Funds are placed in money market deposit accounts when using the ICS savings option, and in demand deposit accounts when using the ICS demand option. Funds are placed into CDs when using CDARS.
Follow these straightforward steps:
  1. Sign:  (a) ICS Deposit Placement Agreement and (b) custodial agreement with City National Bank of Florida. *
  2. Identify existing transaction account(s) or establish a new transaction account to be used with ICS at City National Bank of Florida. If you choose both, ICS savings and ICS demand options, you will need to have a separate transaction account for each. **
  3. Your funds are placed into deposit accounts at other ICS participating banks. ***
  4. See where your funds are at all times by using online tools specially developed for ICS.
  5. Receive one monthly statement from us summarizing your account activity and balances across institutions.

  1. Sign: (a) CDARS Deposit Placement Agreement and deposit funds with us and (b) custodial agreement with City National Bank of Florida.*
  2. Your funds are placed using the CDARS service.
  3. Your CDs are issued by banks in the CDARS network.
  4. Receive confirmation from our bank of your CDs.
  5. Receive consolidated interest payments and one monthly statement from us. 
Utilize convenient online tools
Through the Depositor Control Panel, accessible 24/7, you can check your ICS balances, keep track of monthly program withdrawals (for the savings option), and monitor other important information of interest to you. As always, your confidential information remains protected. Let us know if you would like to learn more about our privacy policy.
*Funds are placed into demand deposit accounts using the ICS demand option and/or money market deposit accounts using the ICS savings option.
**Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC, which is not an affiliate of City National Bank of Florida.