FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Maximize Your FDIC Coverage With Protection Beyond $250,000
At Empire State Bank, we recognize the significance of providing enhanced protection for your assets, and safeguarding your deposited funds is a top priority for us that's why we offer Extended FDIC Insurance Programs to ensure your peace of mind. If your account balance surpasses the FDIC limit of $250,000, you can rely on our Insured Cash Sweep (ICS®) and Certificate of Deposit Registry Service (CDARS®) programs for added protection. These programs enable you to extend FDIC coverage to cover the entire amount of your deposits while enjoying the convenience of a single account and the personalized attention of Empire State Bank.
FDIC Insurance Coverage*Empire State Bank, Staten Island’s only headquartered bank is a member of the Federal Deposit Insurance Corporation (FDIC) and all accounts are accounts are insured by the FDIC up to allowable limits. The FDIC is a U.S. federal agency that protects you up to certain limits against the loss of your deposit accounts. The standard FDIC insurance amount for deposit accounts is $250,000 per account holder per insured bank for each ownership type and $250,000 per owner per insured bank for self-directed retirement accounts deposited at an insured bank. These insurance limits include principal and accrued interest. To learn more on FDIC Deposit Insurance Coverage watch this video by the FDIC: How ICS® and CDARS® Works If You Have More Than $250,000ICS® & CDARS® is a secure and convenient way to insure high balance deposit of $250,000 or more, with full FDIC protection. With our Extended FDIC Insurance Programs, 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 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 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. • One Relationship. Work directly with our dedicated team at Empire State Bank Business and Personal Accounts protected - Extended FDIC insurance covers all types of deposits, both for Business and Personal, including:
Watch this video on how ICS® and CDARS® WorksBank Safe, Bank Smart®. We are here to serve you and help answer any questions you have regarding obtaining extended FDIC Insurance, please contact an Empire State Bank community banking center: If you would like an Empire State Bank representative to reach out to you, please fill out the form below or contact a Banking Center below:Hylan Boulevard Banking Center
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South Avenue Banking Center
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Victory Boulevard Banking Center
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3rd Avenue Banking Center
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18th Avenue Banking Center
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* The information and content provided here about FDIC insurance is for informational purposes only and is provided as a convenience to you. Empire State Bank makes no warranties or representations as to its accuracy and bears no liability for your use of this information. Empire State Bank Bank does not endorse and is not responsible for the content, links, privacy policy, or security policy of any non-Bank website link included here. The information being made available to you here is not intended, and should not be construed as legal, tax, or investment advice, or a legal opinion. You should contact your legal, tax and/or financial advisors to help answer questions about your specific situation or needs prior to taking any action based upon this 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.
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