Learn About the IntraFi Network for Deposit Insurance and Growth

March 29, 2024

Many business owners strive for years to accumulate personal or business wealth, only to discover later the uncertainty that comes with managing and protecting large amounts of liquid assets.

To help ensure your income will be secure, builds interest over time, and remains easily accessible, the IntraFi Network may be the financial solution you need.

Learn the basics of IntraFi Network Deposits, the different deposit options available, and the benefits you may experience by choosing the IntraFi Network to help manage sizable financial assets.

Also, discover why Texas Gulf Bank is the financial institution you need to help you successfully manage your wealth through our dedicated Treasury Services department.

What Is the IntraFi Network?

The Federal Deposit Insurance Corporation (FDIC) is a government agency that provides deposit insurance coverage for depositors of FDIC-insured banks of up to $250,000. The FDIC standard maximum insured deposit limit is $250,000 per depositor, per ownership category at each FDIC-insured bank. This standard applies to individuals, corporations, partnerships or unincorporated entities, including nonprofit and for-profit organizations.

All deposits owned by a corporation, partnership, or unincorporated entity at the same bank are added together and insured up to $250,000–separately from the personal accounts of the owners or members. Anything over the maximum deposit insurance amount is considered uninsured, meaning the individual or business could lose access to funds that exceed the FDIC standard limit.

(Note: For additional information on covered accounts and ownership categories for calculating coverage limits or for calculating coverage limits of Trust Accounts per new FDIC rule effective 04-01-24, see more information at FDIC.gov).

To extend FDIC protection for individual depositors, the IntraFi Network was created with two deposit options: Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS).

This network allows individuals or businesses with liquid assets that exceed the FDIC standard insurance maximum to secure enhanced FDIC insurance. Plus, depositors can manage these assets and investments through their primary bank.

ICS Services

ICS®, the Insured Cash Sweep®service, offers a secure cash management solution that provides access to FDIC insurance for deposits exceeding $250,000.

This benefit is achieved through large deposits placed into either demand deposit accounts (via the ICS demand option) or money market deposit accounts (via the ICS savings option), all while working directly with our bank.

How does it work?

Our bank is a member of a special network, the ICS Network. When our bank places your funds using ICS, your deposit is sent from your transaction account at our bank into deposit accounts at other ICS Network banks in amounts below $250,000– the standard FDIC insurance maximum.

As a result of this process, you can access FDIC insurance coverage from many institutions while working directly with just us.

What else do you need to know?

When going through the ICS service, you receive a regular monthly statement from our bank showing your ICS balances and other key information.

Also you can check your ICS balances and track other important information of interest to you online, 24/7. Your confidential information remains protected.

CDARS

CDARS® offers a smart investing option that allows you to access FDIC insurance for amounts beyond $250,000 and earn returns on your deposits.

One Bank

You can access multi-million-dollar FDIC insurance on CD investments by working directly with just us – a bank you know and trust – giving you peace of mind.

One Rate

Earn one rate for each CD maturity (regardless of which bank is the depository in the IntraFi Network program) and enjoy the option of reinvesting funds through a simple process. The rates may compare favorably to those of U.S. Treasuries and government money market mutual funds with similar maturities.

One Statement

Receive one easy-to-read statement from our bank summarizing your CDARS® holdings. Individuals or businesses that want to place liquid assets into secure CDs can do so across multiple banks using the CDARS option.

If you or your business make large deposits over $250,000 and want to protect your money with FDIC insurance, IntraFi Network deposits are the banking solution you need.

Why Choose the IntraFi Network?

Consider these primary reasons to choose the IntraFi Network to support your wealth.

Rest assured knowing your ICS or CDARS funds are eligible for multi-million-dollar FDIC insurance and fully supported by the U.S. government.

Enjoy the ease of working through a single bank relationship and receiving just one regular statement while making large deposits eligible for FDIC insurance.

Access your funds with unlimited program withdrawals (using the ICS demand option) or up to six program withdrawals per month (using the ICS savings option).

Eliminate ongoing collateral tracking and the need to footnote uninsured deposits in financial statements if you are accustomed to these practices.

Support your community by keeping the full amount of your deposit local to support local lending.

Discover a Local Partner for the IntraFi Network Program

When you’ve worked hard to accumulate personal wealth or increase business assets, you want to know they are fully protected. Through the IntraFi Network program, you can experience a modern way to manage liquid assets without sacrificing convenience or security.

For a secure, streamlined way to process large deposits for yourself or your business, consider Texas Gulf Bank as your primary financial institution for IntraFi services.

As a banking cornerstone of the Southeast Texas Gulf Coast area for over 110 years, we have the regional insight and banking expertise to help your liquid assets thrive.

To learn more about ICS Services or CDARS deposits, contact the Treasury Services Department at Texas Gulf Bank. We look forward to working together to protect and grow your assets.

Note: IntraFi®, ICS®, and CDARS® are registered service marks within the IntraFi Network, LLC.