At Howard, we understand the importance of convenience. That's why we're an Insured Cash Sweep® (ICS) network member. Using this service is a smart, convenient way to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.

With the ICS service, 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 using the ICS demand option or into money market deposit accounts using the ICS savings option.
  • Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us 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 using the ICS demand option or up to six program withdrawals per month using the ICS savings option. Funds can be placed using either or both ICS options to best match your cash management and liquidity needs.

How ICS service works:

Howard Bank is part of the ICS Network. When we place your funds using ICS, your deposit is sent from your transaction account at our bank into deposit accounts at other ICS Network banks in amounts below $250,000, the standard FDIC insurance maximum. As a result, you can access FDIC insurance coverage from many institutions while working directly with just us! You receive a regular monthly statement from us showing your ICS balances and other key information. And you can check your ICS balances and track other important information of interest to you online, 24/7, through a specially designed Depositor Control Panel. Your confidential information remains protected.

Who can use ICS:

  • Businesses of all sizes and types
  • Nonprofits
  • Government finance officers
  • Other large-dollar depositors


Do you want to take advantage of ICS?
Call 410-735-2003 or email us: [email protected] to talk about how ICS can work for you, and how you can enjoy yield, peace of mind, and flexibility - all at the same time!

Placement of funds through the ICS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS settlement for a deposit or after ICS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS satisfies those restrictions. ICS; Insured Cash Sweep; and Bank Safe, Bank Smart are registered service marks of Promontory Interfinancial Network, LLC.