A couple metting with their financial advisor about Insured Cash Sweep.

Insured Cash Sweep (ICS)


Maximize your coverage

A great way to access additional FDIC insurance
on your account.

Seamless account management and enhanced protection

We're part of the IntraFi network, which is a group of participating banks that allows clients to spread deposits across multiple banks. This is ideal when you have deposits that exceed the FDIC's single-account coverage limit of $250,000.

Consolidate your large deposits at WSB and we serve as the custodian, managing the documentation and fund placement in a Money Market Deposit Account (MMDA). You don't have to worry about managing multiple accounts at various financial institutions.

  • Your ICS funds are divided into amounts under the FDIC insurance maximum and placed with network banks
  • Work directly with Watertown Savings Bank to make deposits and withdrawals (limited to six withdrawals a month) in the ICS program
  • Track all activity in a single, streamlined statement that comes from us
  • Additionally, you can access the ICS Depositors Control Panel
 

Read detailed information about IntraFi and ICS. Learn more about FDIC insurance.

And contact us anytime with questions.