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Amerant Protection+
Use ICS®, The IntraFi Cash Service®, and CDARS®
Access multi-million-dollar FDIC insurance at network banks, backed by the full faith
and credit of the federal government. Accounts are easily accessible while providing a competitive return. Save time by working directly with Amerant Bank versus manually opening accounts at multiple banks. Place your funds in Demand Deposit accounts or Money Market Deposit Accounts using ICS, and in CDs with CDARS.
*A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply.
*A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply.
ICS and CDARS Benefits
FDIC Insurance
Through ICS and CDARS, depositors access millions of dollars in aggregate FDIC-insurance across network banks. Eliminating risk via the full faith of the federal government.
Earn Interest
Funds are placed through ICS into demand deposit accounts and money market deposit accounts and in CDs with CDARS, that are interest-earning accounts. Deposits placed into money market deposit accounts through ICS allows six withdrawals per month.1
Easy Access to Your Funds
Get flexible access to your funds via unlimited withdrawals on deposits placed through ICS into demand deposit accounts. See account balances and accrued interest, 24/7, with an online dashboard.
Easy to Get Started
Contact our relationship managers today for detailed information on how to open this type of account. We’ll walk you through what’s needed to get started. Start Now
Trusted Name
Bank with Amerant, a trusted name for over 40 years working and re-investing in the communities that we serve.
Place Your Funds in CD accounts with CDARS®
With CDARS, customers can place their funds into CDs and access multi-million-dollar FDIC insurance at network banks.
Choose Your Product
View How ICS® and CDARS® Work
Amerant Bank has partnered with IntraFi to provide ICS® and CDARS® accounts to our customers. Get the benefit and security of FDIC insurance for deposits over $250,000.
View the video and learn about the advantages of ICS® and CDARS® account powered by Amerant Bank.
Know the Difference
AMERANT PROTECTON+
IntraFi Cash Service®
With ICS, the IntraFI Cash Service, your funds are placed into demand deposit accounts (checking accounts) and/or money market deposit accounts at multiple FDIC insured banks participating in the network. The funds are split into amounts under the standard FDIC insurance maximum of $250,000 to access millions in aggregate FDIC insurance across network banks while working through a single bank relationship.
View Our Current Rates
AMERANT PROTECTION+
CDARS®
With CDARS, the Certificate of Deposit Account Registry Service, you place your funds into CD accounts at multiple FDIC insured banks participating in the network. The funds are split into amounts under standard FDIC insurance maximum of $250,000 to access multi-million-dollar FDIC insurance at network banks.
View Our Current RatesYour FAQs About ICS® Deposit and Money Market Deposit Accounts and CDARS® Accounts
With ICS®, funds are placed through ICS® into demand deposit accounts and money market deposit accounts access multi-million-dollar FDIC insurance at network banks.
With CDARS®, customers can place their funds into CDs and access multi-million-dollar FDIC insurance at network banks.
When you place your funds through ICS account at Amerant, in demand deposit accounts and money market deposit accounts at multiple FDIC insured banks participating in the network. The funds are split into amounts under standard FDIC insurance maximum of $250,000. Amerant is the custodian of your funds and you will have access to a monthly statement with all of your account activities and balances.
When you place your funds with a CDARS account at Amerant Bank, your deposits are divided into amounts under the standard FDIC insurance maximum of $250,000 and are placed in CDs at network banks.1 Amerant is the custodian of your funds, and you will have access to a monthly statement with all of your account activities and balances.
The ICS and CDARS service at Amerant is built with convenience and simplicity in mind. You will not have to fill out multiple paperwork with multiple banking institutions. You simply maintain one single bank relationship.
Any funds placed through ICS and CDARS is placed in other FDIC-insured institutions in the network. Amerant will act as the custodian of your deposits
Yes. You earn interest on excess cash balances by placing funds either into a demand deposit account or money market deposit account with ICS or CD accounts with CDARS.
There is no fee in using the ICS or CDARS service.
There is no limit for frequency of withdrawals with a demand deposit account. For the money market deposit account there is a limit of six (6) withdrawals per month. If you exceed the six withdrawals per month, your account is placed in review.
On the remote chance of a bank failure, the bank’s accounts will be moved to a healthy institution. The approach is preferred by the FDIC. If the FDIC cannot transfer funds to a healthy institution, it will arrange payment of insured principal and accrued interest to depositors.
Penalties for early withdrawals may apply.
Connect with a Bank Representative
Steps to open an ICS® or CDARS® account:
Step 1 | Fill out the contact form to speak to a relationship manager
Step 2 | Provide documentation (SSN, date of birth, and employment information)
Step 3 | Fund your account
1 At our discretion, we may change the interest rate and the annual percentage yield on the account at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). If you close your account before interest is credited, you will not receive the accrued interest. We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day. Money Market accounts are allowed 6 (six) withdrawals within a calendar month. If that is exceeded, the account transactions are placed in a review and activities may be suspended during this review period.
Deposit placement through IntraFi services is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and ICS satisfies any restrictions on its deposits. Fees may reduce earnings.
A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi, CDARS, ICS, and IntraFi Cash Service, are registered service marks of IntraFi Network, LLC
USA PATRIOT Act
To help the government fight the funding of terrorism and money laundering activities, the Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What does this mean for you? When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents.
Important Notice Regarding Wire Transfers
IF WE DO NOT HAVE YOUR FUNDS TRANSFER AGREEMENT IN OUR FILES, WE WILL NOT BE ABLE TO EXECUTE TRANSFERS.
We value our relationship and it is important for us to safeguard your privacy and ensure that your funds are protected against fraudulent activity at all times. For this reason, we are providing you a link to our Electronic Funds Transfers Disclosure, Funds Transfer Agreement and contract.
Customers who request wire transfers through an Account Officer, should download the new wire transfer “Wire Transfer Form” and Electronic Signature Agreement (E-sign Agreement) to authorize this type of transaction. The E-sign Agreement will only need to be signed the first time a wire transfer is initiated.
For fees related to this service, review our Miscellaneous Service Fees Schedule
Understanding Your Deposits
IMPORTANT FUNDS AVAILABILITY INFORMATION
Please review Amerant’s Understanding Your Deposit brochure.
Know Your Customer
Managing a successful Know Your Customer (KYC) Program is a requirement of the U.S. banking system. Learn More.