FDIC-Insured - Backed by the full faith and credit of the U.S. Government
FDIC-Insured - Backed by the full faith and credit of the U.S. Government
With IntraFi, you can enjoy the safety and simplicity of having your money FDIC-insured through a single relationship with Southside Bank.
Peace of Mind
With IntraFi, you can insure your money well into the millions while still being backed by the FDIC through the use of IntraFi Cash Services (ICS). Rather than worrying about whether or not your account is under the FDIC limit and ICS insure your money in the account type that works best for you.
Simplicity
IntraFi simplifies the process of protecting your money. By using IntraFi, you only work with Southside Bank - the bank you already know and trust - rather than tracking your money across multiple institutions. Southside Bank can be your "one-stop shop," so you only need a deposit relationship with us.
Interest
Put your cash to work in the type of account that works best for you. With ICS, you can choose from a convenient checking or money market account.
IntraFi uses ICS to put your money in FDIC-insured accounts throughout the IntraFi network. Here's how it works:
1. You deposit your funds into a Southside Bank account.
2. If your deposit exceeds FDIC maximum coverage and you are signed up with IntraFi, we use ICS to divide your deposit into increments that are under the standard FDIC insurance threshold.
3. These funds are held at multiple FDIC-insured institutions. That way, you get FDIC coverage while continuing to work through a single relationship with Southside Bank.
You will receive a monthly statement from IntraFi for details on your funds within the network institutions. For ICS accounts, you will also receive a monthly statement from Southside Bank with details on your deposit account and have access to details about your account online, 24/7.
And as always, your information is confidental and protected.
If your deposits are at or over the FDIC maximum insurance limit of $250,000, using IntraFi may be a good fit to ensure all your funds are protected. Additionally, if your funds are spread out over several institutions to stay within the FDIC insurance limit, using IntraFi can help simplify the process by using a single relationship with a bank you trust.
The Depositor Control Panel (DCP) is a secure website where you can view your ICS account(s). Visit your DCP at www.depositorcontrol.com.
For ICS accounts, you will be able to access your funds through your Southside Bank deposit account. You will be able to view where your funds are held, how much is held in each institution, and the interest earned through using your DCP.
Yes, you can use IntraFi whether you have a personal, business, public funds, or non-profit organization account. You have the option to deposit your funds in a checking, money market, or CD account.
You will be able to see your available funds for your ICS account(s) within your Online Banking and on the DCP.
For ICS accounts, you will receive two statements: one from Southside Bank that includes details about your operating account with us and one from IntraFi with activity on accounts within the IntraFi network.
No, Southside Bank will only share information with IntraFi in order to process the placement of your funds. Neither Southside Bank nor IntraFi will share your personal information with institutions where your funds will be held.
You are able to view how much interest you've earned from the deposit account you have with Southside as well as the accounts for funds within the IntraFi network. You can view your accrued interest and activity on the deposit account with Southside through your Online Banking.
The total accrued interest for your ICS funds within the IntraFi network can be viewed on the home page of your DCP and will be displayed on the right side of the welcome message. To see the accrued interest broken down by account, view the individual account under the “Accounts List” section on the home page.
You are able to view interest rates for your deposit account you have with Southside as well as the accounts for funds within the IntraFi network. You can view the interest rate and activity on the deposit account with Southside through your Online Banking.
To view the interest rate and activity on your ICS funds in the IntraFi network, you will need to log in to your DCP. In the DCP, you will click on the account from the home page. Under the account details, the interest rate for your funds within IntraFi will be displayed on the right side.
