Access FDIC Insurance Above $250,000
Commerce Bank of Arizona is proud to offer access to FDIC insurance for accounts above the FDIC insurance limit ($250,000) through CDARS and ICS.
The placement of your funds for both CDARS and ICS occurs in increments below the standard FDIC insurance maximum of $250,000 so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can access insurance coverage from many. And, you receive just one regular, monthly account statement per service from us.
How CDARS works
When you place a large deposit with Commerce Bank of Arizona, a CDARS Network member, the Network can be utilized to place your funds into CDs issued by other members of the CDARS Network.
How ICS works
ICS is also known as the Insured Cash Sweep Service©.
When you place a large deposit with Commerce Bank of Arizona, an ICS Network member, the Network can be utilized to place your funds into money market deposit accounts at other FDIC insured member institutions.
And, your confidential information remains protected with us.
Interested? Contact a banker at your local branch for more information.
To learn more about these services, or for a list of current rates please contact us here.