Certificate of Deposit Account Registry Service information
For-profit financial service in the U.S.
Certificate of Deposit Account Registry Service
The Certificate of Deposit Account Registry Service (CDARS), was a US for-profit service that broke up large deposits (from individuals, companies, nonprofits, public funds, etc.) and placed them across a network of more than 3000 banks and savings associations around the United States. This allowed depositors to deal with a single bank that participates in CDARS but avoid having funds above the Federal Deposit Insurance Corporation (FDIC) deposit insurance limits in any one bank.[1]
In 2021, the service was reconfigured with several other offerings of IntraFi Network (formerly Promontory Interfinancial Network) into IntraFi Network Deposits and IntraFi Funding. [2]
^Bruce, Laura (April 16, 2009). "6 Ways To Insure Excess Deposits". Bankrate. Archived from the original on February 28, 2017.
^IntraFi Network, Virginia Bankers Association https://www.vabankers.org/endorsed-provider/intrafi-network
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