Business Accounts
Find exactly what you need to run your business. Our Business Accounts allow you to focus on your business and manage all transactions with ease!
Insured Cash Sweep
Timberland Bank has partnered with IntraFi Network to offer Insured Cash Sweep (ICS) accounts. Through the IntraFi Network, deposits are divided and allocated among Network banks, which allows for full FDIC insurance from several institutions for up to $100 million per customer. This product utilizes a nightly sweep to move funds between the ICS account and the operating account for liquidity management. A Deposit Placement Agreement must be signed by the depositor for funds to be placed in the IntraFi Network.
ICS is a smart, convenient way for you to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.
With an ICS account, you can:
- Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
- Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts, money market deposit accounts, or both.
- Save time. Work directly with Timberland—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from Timberland summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
- Access funds. Make unlimited withdrawals of funds placed into money market deposit accounts or up to six program withdrawals per month of funds placed into demand deposit accounts. Funds can be placed in one or both types of deposit accounts to best match your cash management and liquidity needs.
Visit one of our branch locations or contact us for more information.
Deposit placement through CDARS or 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 must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. 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 the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC.
Contact Cash Management
Timberland Bank Cash Management Specialists will help you gain greater control of your business finances, maximize cash flow and simplify your accounts, all with 24-hour banking convenience. Contact a Timberland Cash Management Specialist today for a no-cost, no-obligation analysis.