Amerant Protection+

Use ICS®, The IntraFi Cash Service SM

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.
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ICS Benefits

FDIC Insurance

Through our use of ICS® Network Deposits depositors receive access to multimillion-dollar FDIC insurance. 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 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

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.

View How ICS Works

Amerant Bank has partnered with IntraFi to provide Insured Cash Sweep 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 an ICS account powered by Amerant Bank.

Opening an ICS Account

Only three steps to get started.

1
Step One

Contact a relationship manager
2
Step Two

Provide documentation for identity with your SSN, date of birth, and employment information.
3
Step Three

Fund your account.
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Your FAQs About ICS Deposit and Money Market Accounts

When you place your funds through ICS account at Amerant, in demand deposit accounts and money marketing 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.

The ICS service at Amerant is built with convenience and simplicity in mind. You will not have to fill out multiple paperwork and multiple banking institutions. You simply maintain one single bank relationship.

Any funds placed through ICS 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

There is no fee in joining the ICS service.

There is no limit for frequency of withdrawals with a demand deposit account. For the money market 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 instituion. 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.

Connect with a Bank Representative

We’re here to help you grow. Fill out the form and we will connect you with the right person.

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 ICS 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 and ICS are registered service marks, and Intrafi Cash Service, 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.