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CDARS

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If you need broader FDIC coverage, CDARS® is the solution. Through the CDARS network, we can provide you with access to multi-million dollar FDIC protection on your CD investments.  Plus with CDARS, you only deal with one bank, one rate, and one statement.

    What is CDARS?

    CDARS® is a Certificate of Deposit Account Registry Service®. And it's the easiest, most convenient way to enjoy access to full FDIC insurance on large deposits.

    What makes it so easy and convenient?

    One Bank

    Everything is handled through BAC Community Bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of the CDARS network. Then, those member banks issue CDs in amounts under the standard FDIC insurance maximum, so that your entire investment is eligible for FDIC insurance. By working with just one bank, you can receive insurance through many.

    One Rate

    You earn one rate on your entire investment — so you can avoid multiple rate negotiations and consolidating multiple disbursement checks.

    One Statement

    You receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there's no need to manually consolidate statements, track changing collateral values, or use private surety bonds. It's that simple.

    How CDARS Works

    When you're ready to take advantage of CDARS, here's what happens:

    • You enter into one agreement. You sign one simple Deposit Placement Agreement with BAC Community Bank.
    • You select an interest rate and a maturity date based on current CD options. You agree to a rate and a maturity that best matches your investment goals.
    • Funds are deposited. Using CDARS, your funds are submitted for placement at member banks.
    • CDs are issued. Member banks issue CDs in denominations under the FDIC maximum so your entire investment is eligible for full FDIC coverage.
    • Confirmation is received. You receive written confirmation of your deposits and a listing of all of your CDs.

    That's it! Using CDARS is just that easy.