Sweep Programs
Businesses and individuals who maintain higher balances in checking, savings, Money Market, and CD accounts can have their funds spread across multiple banks to increase FDIC protection and potential earnings.
Maximize your coverage and peace of mind
The Federal Deposit Insurance Corp. generally covers up to $250,000 in deposits per account at each financial institution. To avoid leaving excess funds unprotected, customers can access national networks that automatically divide deposits among several banks. However, individuals and businesses still enjoy the convenience of dealing exclusively with Pacific National Bank professionals.
Through our partnership with IntraFi® Network, you can take advantage of Insured Cash Sweep (ICS®) and Certificate of Deposit Account Registry Service (CDARS®).
- Connects depositors with a network of banks to ensure FDIC insurance for deposits exceeding the standard $250,000 limit
- The ICS® program is for checking, savings and Money Market accounts
- The CDARS® network is for Certificate of Deposit accounts
- Funds are deposited in a single bank, then split into amounts less than the FDIC maximum and placed at various network banks
- Solutions offer access to multi-million-dollar FDIC insurance through a single bank relationship
- They offer reduced administrative burden compared to opening accounts at multiple banks
- They unlock the potential to earn competitive interest rates on ICS® and CDARS® deposits
Online & Mobile Banking
Manage your money with ease.
Check balances, pay bills, deposit check and stay in control of your finances - wherever you are.