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Avoid having funds above the Federal Deposit Insurance Corporation (FDIC) deposit insurance limits in any one bank.
Certificate of Deposit Account Registry Service is a service that manages large deposits (from individuals, companies, nonprofits, public funds, etc. on an account with funds in excess of $250,000) and places them across a network of more than 3,000 banks and savings associations around the United States. This allows depositors to deal with a single bank that participates in CDARS but avoid having funds above the Federal Deposit Insurance Corporation (FDIC) deposit insurance limits in any one bank. Contact Customer Service for additional information on qualifying deposits.
