Introduction to NBID

Welcome to the NBID Resource Center!
What is NBID?
What is a deposit network?
What is an Insured Sweep Account?
How do Insured Sweep Accounts work?
How do my customers benefit?
How does my bank benefit?
What rate do I pay and/or earn in the network?

FAQs

Comparison to and conversion from other network providers
Product capabilities and support
Integrations

Managing your program

Onboarding and Program Setup
Operations and Workflows
Using the Admin Portal
Integrations
Positioning and Rates
- Deposit Growth Levers
- Pricing Structures

Client Experience

Using the Depositor Portal
Customer Education and Marketing Materials

Reporting and Documentation

Daily Program Report
End of Month Settlement Report
Monthly Account Statement
Annual 1099-INT Tax Forms

Additional Products

Prospect Finder

Community Discussion Board

Join the conversation

SFTP Configuration Guide

Updated 5 days ago

Q2 Onboarding Process

Positioning and Rates

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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