Recent headlines surrounding the collapse of two sizable banks in the U.S. have disrupted the markets and caused many people to become concerned about their FDIC coverage.
But as a client of Encore Bank, you can rest assured that we are committed to helping you protect your deposits, especially during times of market volatility.
Since Encore is a member of a special network called the IntraFi Network, we are able to provide you with the safety and convenience that comes with access to multi-million-dollar FDIC insurance (up to $150 million for a single Tax ID) through just one bank relationship.
Peace of Mind
With IntraFi Network Deposits, your funds are eligible for FDIC insurance protection in amounts well into the millions, all backed by the full faith and credit of the federal government. And since deposit accounts are not subject to floating net asset values, you can feel secure knowing that market volatility will not negatively affect principal.
Put cash balances to work in money market deposit accounts or CDs.
Enjoy access to funds placed through IntraFi Network Deposits into money market deposit accounts. With CD placements, you can choose from multiple term options to meet your liquidity needs.
Work directly with just us—a bank you know and trust— to access multi-million-dollar FDIC insurance and forego the need to use repo sweeps, to track collateral on an ongoing basis, or to manually consolidate statements and disbursements from multiple banks.
How does the IntraFi Network Deposits work?
We, like other institutions that offer IntraFi Network Deposits, are members of a special network. When we place your deposit through IntraFi Network Deposits, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed into deposit accounts or CDs at multiple FDIC-insured banks. As a result, you can access FDIC coverage from many institutions while working directly just with us. Receive one statement from our bank for each product option in which you participate and access key details about demand and savings accounts online, 24/7.
And, as always, know that your confidential information is protected.
Contact 844-394-2265 or your local Encore Bank representative for additional information regarding extended FDIC coverage.