Extend your FDIC coverage beyond $250,000
ICS®, the IntraFi Cash ServiceSM, is a smart, convenient way for Northfield customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.
With our ICS service, you can:
- Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
- Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts, money market deposit accounts, or both.
- Save time. Work directly with just Northfield Bank - a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
- Access funds. Make unlimited withdrawals of funds placed into demand deposit accounts money or up to six program withdrawals per month of funds placed into money market deposit accounts . Funds can be placed in one or both types of deposit accounts to best match your cash management and liquidity needs.
How does ICS work?
Northfield, like other institutions that offer ICS, are members of the IntraFi network. When we place your deposit through ICS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed into deposit accounts at multiple FDIC-insured banks. As a result, you can access FDIC coverage from many institutions while working directly just with us.
Receive one statement from Northfield and access key details about your accounts online, 24/7.
And, as always, know that your confidential information is protected.
Watch the Video Below to Learn More.
To learn more about extending your FDIC coverage, speak to a Northfield Banker about ICS®, the IntraFi Cash ServiceSM or view the ICS Frequently Asked Questions.