![]() ![]() ![]() You may select an existing account or set up a new one to be used with each ICS option you choose. For a list of locations, visit: Īfter this, you will identify a checking account or other transaction. To get started with your ICS account, you’ll first need to visit any First National Community Bank branch location and sign an ICS Deposit Placement Agreement and a custodial agreement with First National Community Bank. How do I begin using the ICS service with First National Community Bank? Your confidential financial information remains protected with an Insured Cash Sweep and backed by FDIC insurance. With an ICS account, you will receive regular monthly statements from First National Community Bank for each option showing your ICS deposit balances and other key information.Īdditionally, you can check your ICS statement and track important information of interest to you online anytime through a specially designed Depositor Control Panel. How do I keep track of my ICS account balance? This makes your funds eligible for FDIC insurance protection.Īs a result, you can access FDIC insured coverage from many institutions while working directly with First National Community Bank. When your bank places funds for you using ICS, your deposit is sent from your transaction account at First National Community Bank into deposit accounts at other ICS Network banks in amounts below the standard FDIC insured maximum of $250,000. Through an ICS, you can earn interest on funds placed into demand deposit accounts, money market deposit accounts, or both, and rest assured knowing that your ICS funds are eligible for multi-million dollar FDIC insurance. ICS Account Frequently Asked Questions: What is an ICS deposit? ![]() Feel good knowing that the full amount of your funds placed through ICS stay local to support lending opportunities that build a stronger community. View your balances, transactions, interest and other important details associated with your deposit accounts online. Enjoy 24/7 online access to account information. Make up to six program withdrawals per month using the ICS savings option. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis. Receive just one monthly statement from us summarizing your account activity and balances. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Work directly with just our bank – a bank you know and trust. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government through a single bank relationship. ICS deposits are sent to ICS Network banks. Insured Cash Sweep (ICS) service is a smart, secure and convenient way for bank customers to access multi million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility. ![]()
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