IntraFi Network Deposits: A Complete Guide

In simple terms, IntraFi Network Deposits are funds exchanged between banks within IntraFi’s network of financial institutions.

The IntraFi system helps meet depositors’ local investment goals and ensures compliance with relevant mandates governing the banking industry. However, it’s essential to note that deposit placement through IntraFi’s services is subject to specific terms, conditions, and disclosures outlined in the program agreements.

Additionally, there are limits and eligibility criteria that customers need to be aware of.

What are IntraFi Network Deposits?

IntraFi Network Deposits, or Insured Cash Sweep (ICS) and CDARS (Certificate of Deposit Account Registry Service), are deposit placement services offered by IntraFi Network LLC. These services provide banks access to a robust network of financial institutions nationwide.

When a deposit is placed through ICS and CDARS, funds are exchanged with other banks in IntraFi’s network on a dollar-for-dollar basis. Through this system, your bank can utilize the full deposit amount for local lending purposes, helping to meet depositors’ investment goals or mandates.

It is important to note that while deposits are placed in amounts that do not exceed the FDIC standard maximum deposit insurance amount (SMDIA) at any one destination institution, customers can access aggregate insurance amounts across multiple institutions.

This insurance provides enhanced deposit protection, safeguarding your funds beyond the traditional FDIC protection limits.

Benefits of IntraFi Network Deposits

  1. Enhanced Deposit Protection: By utilizing IntraFi Network Deposits, depositors can benefit from increased deposit protection. With access to a network of financial institutions, your funds can be spread across multiple insured depository institutions, maximizing your deposit insurance coverage.
  2. Local Lending Opportunities: Unlike traditional deposit arrangements, IntraFi Network Deposits allow your bank to utilize the deposited funds for local lending. Under this system, your deposits can actively contribute to the growth and development of your community, supporting local businesses and individuals.
  3. Convenience and Streamlined Management: With IntraFi Network Deposits, depositors can work with a single bank while enjoying the benefits of widespread deposit insurance coverage. This system eliminates the need for customers to allocate and manage deposits across multiple banks independently.
  4. Access to a Nationwide Network: IntraFi Network Deposits provide access to an extensive network of financial institutions nationwide. IntraFi allows banks to establish valuable partnerships with other institutions, fostering collaboration and strengthening their services.

What are the cons of IntraFi?

One of the biggest cons of using IntraFi is a loss of autonomy. Because you’re not choosing your specific accounts, you lose control over the interest rates and you won’t be able to shop around for the best rate.

You can discuss your options with a financial advisor to decide if the IntraFi network fits your investment goals.

How Do IntraFi Network Deposits Work?

IntraFi Network Deposits offer a convenient and secure way to maximize FDIC insurance coverage on large deposits.

This innovative solution helps individuals and organizations safeguard their funds and benefit from the extensive network of banks associated with IntraFi Network Deposits. Let’s delve into the key aspects of how these deposits work.

Deposit Placement Services

IntraFi Network Deposits provide depositors access to a network of well-established and highly-rated banks. When a depositor places funds through the IntraFi platform, those funds are spread across multiple network banks.

In other words, your funds are not concentrated in a single institution, mitigating the risk associated with a bank default.

Dollar-for-Dollar Exchange with Other Banks

Through the IntraFi Network Deposits program, when you place a deposit, your funds are exchanged dollar-for-dollar with other banks within the network.

This exchange occurs one-to-one through reciprocal deposits, ensuring your funds are diversely allocated across different financial institutions. This process happens seamlessly behind the scenes, allowing you to enjoy the convenience of a single relationship with your bank.

Local Lending and Investment Goals

One of the unique advantages of IntraFi Network Deposits is that it supports local lending and investment goals. When you deposit funds through the IntraFi platform, the network banks can lend some of those funds to local borrowers, such as individuals, small businesses, and community projects. This liquidity fosters economic growth and strengthens local communities.

Additionally, the deposited funds can be invested locally by the network banks, helping to fuel local economic development.

Program Agreements and Eligibility

To understand and participate in IntraFi Network Deposits, being familiar with the program agreements and eligibility requirements is important. This section will provide an overview of the terms, conditions, disclosures, limits, and customer eligibility criteria.

Terms, Conditions, and Disclosures

Reviewing and complying with the program agreements is essential when you choose to place your deposits through IntraFi’s deposit placement services. These agreements outline the terms, conditions, and disclosures governing your program participation. By understanding and adhering to these agreements, you can confidently utilize the full benefits of IntraFi Network Deposits.


Specific limits apply to IntraFi Network Deposits to ensure proper management and allocation of funds. For example, for money market deposit accounts enrolled in the ICS program, withdrawals may be limited to six per month. These limits are designed to maintain liquidity and stability across participating financial institutions’ networks.

Customer Eligibility Criteria

In addition to limits, there are customer eligibility criteria that may apply when participating in IntraFi Network Deposits. These criteria help ensure that the program is accessible to a wide range of customers while maintaining the necessary safeguards established by banking industry regulations.

It is important to review and meet these eligibility requirements to take advantage of the benefits offered by IntraFi Network Deposits.

By understanding the terms, conditions, and disclosures of the program agreements, as well as the limits and customer eligibility criteria, you can confidently navigate and make the most of IntraFi Network Deposits. It is essential to stay informed and comply with these guidelines to ensure a smooth and successful experience with IntraFi Network Deposits.

FDIC Limits

The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency providing deposit insurance to US bank depositors.

The FDIC’s standard maximum deposit insurance amount is $250,000 per depositor, per bank, for each account ownership category.

When using the CDARS® and ICS® services provided by IntraFi Network Deposits, your deposits are placed across the bank network. Each deposit at an individual bank will not exceed the FDIC’s standard maximum deposit insurance amount of $250,000. Consequently, these deposits are eligible for FDIC insurance, which means that even in a bank failure, depositors will not lose their money.

The FDIC has a strong history of protecting depositors’ funds—no depositor has ever lost a cent in an FDIC-insured deposit.

In the unfortunate event of a bank failure, the FDIC ensures that deposit insurance claims are addressed either by paying out the deposits in cash and accrued interest, or by transferring the deposits to a healthy bank.

In this way, depositors can trust that even during financial stress, their funds placed through IntraFi Network Deposits are protected by the safety of FDIC insurance.

How to Find an IntraFi Bank

To take advantage of the benefits offered by IntraFi Network Deposits, it is important to know how to find an IntraFi bank. Here are a few steps you can follow to locate an IntraFi bank near you:

1. Visit the IntraFi Network Website

Start by visiting the official IntraFi Network website at This website serves as a hub for information about IntraFi Network Deposits and provides various resources, including a list of network banks.

2. Access the Network Banks Page

Once on the IntraFi website, navigate to the “Network Banks” page. This page provides a comprehensive list of all the banks that are part of the IntraFi Network. You can typically find it in the main navigation menu or a prominent link on the homepage.

3. Explore the Network Banks List

On the “Network Banks” page, you’ll find a detailed list of banks participating in IntraFi Network Deposits. This list may be organized by geographic location, making finding a bank near you easier. Take your time to explore the list and identify potential options.

4. Filter Search Results

If many banks are listed, and you want to narrow down your options, you can use the search or filtering options provided on the website. These tools allow you to refine your search based on criteria such as location, bank size, or specific services offered.

5. Contact the Chosen Bank

Once you have identified a participating bank that interests you, it’s time to contact them directly. Use the contact information on the IntraFi Network website or visit the bank’s own website to find the necessary contact details. Reach out to the bank to inquire about their IntraFi Network Deposits offerings and any specific requirements they may have.

Is IntraFi Safe?

IntraFi Network Deposits provide an innovative solution for depositors seeking maximum FDIC insurance coverage. But is IntraFi safe? Let’s delve into the safety and security aspects of IntraFi Network Deposits to address any concerns.

  • Robust FDIC Insurance Protection: IntraFi Network Deposits offer a comprehensive and secure solution to the safety of your deposits. By utilizing the financial services provided by IntraFi, you can tap into multi-million-dollar FDIC insurance coverage through a single bank relationship. Your funds are not only protected but also optimized for maximum insurance coverage.
  • Diversification and Risk Mitigation: When you deposit your funds through IntraFi’s services such as ICS (Insured Cash Sweep) or CDARS (Certificate of Deposit Account Registry Service), your deposits are split into amounts below the standard FDIC insurance limit of $250,000. These amounts are then placed in deposit accounts at different banks within the network. By spreading your funds across various network banks, the risk associated with placing all your deposits in a single institution is significantly mitigated.
  • Choice and Flexibility: IntraFi Network Deposits offer you the flexibility to choose how and where your funds are placed within the network. You have the option to select demand deposit accounts, money market deposit accounts, or certificates of deposit (CDs) based on your individual financial goals and preferences. This flexibility allows you to customize your deposit strategy while ensuring that your funds remain within the FDIC insurance
  • Transparent Reporting and Easy Management: IntraFi Network Deposits offer convenient features that facilitate seamless management of your funds. You can access FDIC coverage from multiple institutions with just one network bank relationship. Furthermore, you can enjoy the benefits of transparent and detailed reporting. IntraFi Network Deposits provide comprehensive periodic statements from your chosen bank, ensuring you have clear visibility into your deposit activity and interest earnings.

How Do You Use IntraFi?

By utilizing IntraFi’s deposit placement services, banks can enhance their liquidity, maximize their FDIC insurance coverage, and meet the specific needs of their depositors’ communities. Here’s how to use IntraFi:

1.   Open an Account

To begin using IntraFi, your bank needs to establish an account with IntraFi Network Deposits. This process involves entering into program agreements that detail the terms, conditions, and disclosures of the deposit placement services offered.

By adhering to these agreements, your bank can ensure compliance and provide a seamless experience for its depositors.

2. Place Deposits

Once your bank has an account with IntraFi, you can start placing deposits through their network of financial institutions. IntraFi facilitates the exchange of funds on a dollar-for-dollar basis, allowing your bank to use the full amount of a deposit for local lending purposes. This process enables banks to satisfy the local investment goals or mandates of their depositors.

4. Understand Withdrawal Limitations

It’s important to note that withdrawal limitations may be associated with the Insured Cash Sweep (ICS) program offered by IntraFi Network Deposits. Money market accounts under the ICS program may be subject to a monthly withdrawal limit of six transactions. Bank depositors should be aware of these limitations and plan their withdrawals accordingly.

5. Know Your Responsibility and Eligibility

While IntraFi ensures that deposited funds stay within the SMDIA at any one destination institution, it’s essential to remind depositors of their own responsibility to protect their actual cash balances. Depositor’s balances at the participating bank placing the deposits may exceed the SMDIA or be ineligible for FDIC insurance if they exceed their actual cash value.

6. Ensure Compliance

If your bank has specific restrictions on depositing funds, it is crucial to determine if deposit placement through IntraFi’s services satisfies those restrictions. By understanding and adhering to regulatory and compliance requirements, your bank can ensure depositors a seamless and compliant experience.

Bottom Line

The IntraFi Network Deposits system offers a unique and efficient way for banks to manage and leverage their deposits. By participating in IntraFi’s network of financial institutions, banks can exchange funds on a dollar-for-dollar basis, allowing them to fully utilize the deposits for local lending and meet depositors’ investment goals.

It’s important to note that deposit placement through IntraFi’s services is subject to specific terms, conditions, and disclosures outlined in the program agreements. Limits and eligibility criteria may apply, and there may be restrictions on withdrawals for money market deposit accounts.

While deposits are placed at destination institutions within the FDIC standard maximum deposit insurance amount, depositors need to be aware of their balances and take necessary actions to protect them according to applicable laws. IntraFi provides a list of network banks for reference and allows depositors to exclude specific insured depository institutions if desired.

IntraFi Network Deposits offers a secure and beneficial solution for banks and depositors to optimize deposit management and achieve financial goals.

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