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Transitioning your deposit network services to NBID

Many NBID member-banks already maintain substantial reciprocal deposit or one-way sweep programs with other deposit network vendors. Our comprehensive Migrating to NBID guide, available on request, outlines the key considerations for planning and executing a smooth transition to our network.

The guide highlights the significant benefits of joining NBID—including substantial cost savings and the unique advantage of bank oversight of the network—while providing a detailed roadmap of the migration process, operational details, and the dedicated support you'll receive throughout your journey. We've organized the information into clear, actionable sections covering everything from initial planning strategies to long-term partnership benefits.

Whether you're actively planning a transition or simply exploring your options, the guide will help you understand how NBID can enhance your deposit network experience.

Updated 14 days ago

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Disclosures

A list identifying NBID / ModernFi network banks can be found here. NBID and ModernFi are not FDIC-insured banks, and deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. NBID is not a member of the Federal Deposit Insurance Corporation (FDIC) and is not a financial institution, nor does it offer financial institution deposits and its services are not guaranteed or insured by the FDIC.

Funds placed through NBID's deposit network are deposited at FDIC-insured banks. Each participating bank provides FDIC insurance coverage up to $250,000 per depositor. By spreading deposits across multiple banks in the network, customers may be eligible for aggregate FDIC insurance beyond the standard $250,000 limit provided by a single institution. Customers should monitor their total assets at each program bank to determine the extent of available FDIC insurance coverage.

FDIC insurance is subject to FDIC rules, including pass-through coverage requirements. For more information about FDIC insurance, visit www.FDIC.gov.

Deposits exceeding applicable FDIC coverage limits at any single institution are not insured by the FDIC.

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