Depositing Funds

To deposit funds into the deposit network, your client simply moves funds from their existing account at your bank (whether it’s checking, savings, money market, etc.) into their newly created Insured Sweep Account via a standard internal transfer.

From there, funds are aggregated into a single program account and pulled into the network once per day via wire. Once in the network, funds are distributed to partner banks to provide your clients with access to extended insurance. Deposits remain at these banks until your client initiates a withdrawal.

Deposit Illustration