Access to FDIC Insurance on Multi-Million Dollar CD Deposits
The Certificate of Deposit Account Registry Service, CDARS®, is a service that will allow you to make a substantial CD investment while having the peace of mind knowing that your account will have access to multi-million dollar FDIC insurance and the convenience of working directly with just one financial institution, us. This service is available to consumers and all types of businesses.
The CDARS service has a Network of members that allows American Bank to break your large deposit into smaller amounts and place them with other banks that are members CDARS Network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum (currently $250,000), so that both principal and interest are eligible for FDIC insurance.
By working directly with representatives from American Bank, you can receive insurance coverage from many. And, you receive just one regular consolidated account statement.
We welcome the opportunity to assist you in opening your CDARS account.
To learn more about the CDARS service, contact a member of our Customer Service team.
- No Hidden Fees. You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you are quoted is the rate you get
- A Wide Variety of Maturities. You can select from various maturities – ranging from 4 weeks to 260 weeks (5 years) – and choose the terms that best suit your investment needs
- Access to FDIC Insurance. You have the security of knowing your funds are eligible for FDIC insurance
Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.