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 customer of Bank of Denver, you can rest assured that we are committed to helping you protect your deposits, especially during times of market volatility.
Since Bank of Denver 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.
Enjoy access to funds placed through IntraFi Network Deposits into money market deposit accounts.
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.
And, as always, know that your confidential information is protected.
Contact 303-572-3600 for additional information regarding extended FDIC coverage.
Placement of funds through IntraFi Network Deposits is subject to the terms, conditions, and disclosures in the program agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. Program withdrawals may be limited to six per month for funds placed in MMDAs. 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 settlement for a deposit or after 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 IntraFi Network Deposits satisfies those restrictions. IntraFi, Network Deposits, and the IntraFi logo are service marks, and ICS and CDARS are registered service marks, of IntraFi Network LLC