Insured Cash Sweep® (ICS) Service - First Utah Bank | Personal Banking | Business Banking | Treasury Management | Loans

Business Credit Card

Merchant Services

Hub Access


Insured Cash Sweep

Insured Cash Sweep® (ICS) Service

ICS® is the most convenient way to access FDIC insurance on multi-million-dollar demand deposit accounts, earn interest and maintain liquidity with unlimited program withdrawals.


One Bank
Everything is handled through First Utah Bank. Your large deposit is broken into smaller amounts and placed in demand deposit accounts with other financial institutions that are members of the ICS® Network. By working directly with First Utah Bank, your deposit is eligible for multi-million-dollar FDIC insurance protection.

One Rate
You earn one rate per maturity on your entire investment—so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.

One Statement
You receive one regular account statement listing all of your demand deposit accounts and the names of the financial institutions that hold them, interest earned, and other details.


Enjoy Peace of Mind
Through a single bank relationship, you can make your ICS funds eligible for multi-million-dollar protection that’s backed by the full faith and credit of the United States government. No depositor has ever lost a penny of FDIC-insured funds.

Earn Interest

Put excess cash balances to work by placing funds into demand deposit accounts.

Enjoy Liquidity

Make unlimited program withdrawals.

Save Time

Reduce your ongoing collateral-tracking requirements and save time by working directly with just one bank—First Utah Bank!

When you’re ready to take advantage of ICS, here’s what happens:

  1. Sign an ICS Deposit Placement agreement with First Utah Bank.
  2. Use your existing transaction account, or open a new one, at First Utah Bank to link to your ICS account.
  3. Your funds will be automatically placed into demand deposit accounts at other ICS Network member banks.
  4. Easily access account balances and other key information through our online Treasury Management portal.
  5. Receive one regular monthly statement from First Utah Bank, summarizing your account activity and balances across institutions.


  • Corporations (public and private)
  • Mid-size companies (public and private)
  • Small businesses (partnerships, sole proprietorships, entrepreneurial ventures)
  • Franchises

Public Funds

  • Government agencies
  • Municipalities (towns, cities, counties)
  • Police departments
  • Fire districts
  • Public colleges and universities
  • Public hospitals
  • School districts
  • State funds
  • Utility districts (power, water, sewer, etc.)


  • Charities
  • Religious institutions
  • Colleges and universities
  • Community foundations
  • Endowment funds
  • Foundations
  • Homeowners’/Condo associations
  • Hospitals


  • Other large-dollar depositors, which may include:
  • Banks and credit unions (for CRA credit or as earning assets)
  • Escrow/Title companies
  • Estate planners
  • Private investors
  • Trusts/Trustees
  • 1031 exchanges
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. Unlimited program withdrawals are available with ICS only when using the ICS demand option. 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 One Bank. One Rate. One Statement are registered service marks of Promontory Interfinancial Network, LLC.

Get more information

Interested in learning more about the Insured Cash Sweep® (ICS) Service? Fill out the contact form below and our Treasury Management team will be in touch with you shortly!