Do you have more than $250,000 deposited in a bank account or in a bank? If so, you’ll want to check if your bank is part of the IntraFi network.
For out-of-network banks and credit unions, customer deposits are generally insured up to just $250,000 per account type. That means if you have more on deposit, you could lose money if your financial institution goes bankrupt. Some people experienced it firsthand in 2023 as a result of the regional banking crisis.
But if your bank is a member of the IntraFi network, your personal or business deposits can be insured against losses of up to $150 million.
The IntraFi network is a service that provides you with more insurance for your bank deposits by distributing your money between multiple banks.
Most banks and credit unions have insurance through the FDIC or NCUA, but it only covers deposits up to $250,000 per depositor, per institution, and per ownership category. For many people, that’s more than enough coverage.
However, after the 2023 regional banking crisis, consumers with high deposits realized that they may need more protection. During the crisis, five banks failed in quick succession, including First Republic Bank and Citizens Bank. Since then, banks have looked for ways to adopt higher coverage amounts for their customers.
Now, in 2026, more than 3,000 financial institutions are part of the IntraFi network. If your bank participates, you likely have access to a few different types of personal or business accounts that provide millions in insurance coverage. IntraFi coverage applies to two different categories of bank accounts:
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Insured Cash Sweep (ICS): Coverage for demand accounts such as checking, savings and money market accounts.
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Deposit account registration service certificate (CDAR): Coverage for certificates of deposit (CD).
If you’re looking for deposit insurance over $250,000, here’s how the IntraFI Network can help:
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Initial deposit: Locate a bank that is on the IntraFi network and deposit your money into an ICS or CDARS account.
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Agreements: Sign a Deposit Placement Agreement and a custody agreement.
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Bank placement: Your bank will distribute the money among FDIC-insured institutions, in increments of less than $250,000 (the maximum amount depends on the bank’s policy) to ensure that your deposits and interest earnings are covered.
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Rates and fees: Your bank sets the rate you earn on your accounts, even if the money is distributed to other institutions. Those other institutions will not charge you any fees.
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Account Management: Although your money is distributed to other banks, you can still manage your total balance through your main bank. That includes viewing bank statements and making withdrawals and transfers.
To illustrate how it works, let’s say you deposit $500,000 into a savings account at Bank A, which belongs to the IntraFi network. Bank A keeps $200,000 in place and distributes the remaining amount between Bank B, Bank C, and Bank D in increments of $100,000. Ultimately, you have money deposited in four different banks, but you can manage it all through Bank A.
Read more: How much money should you keep in a savings account?
There are more than 3,000 financial institutions on the IntraFi network, including some of the largest banks in the US:
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bank of america
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Capital One Bank
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Citibank
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Citizens Bank
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Truista Bank
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Wells Fargo Bank
To find out if your financial institution is part of the network, you can consult the list of Intrafi banks. You can also check your bank’s website to see if IntraFi, ICS, or CDARS are mentioned, or ask a representative at your bank.
Doing business with a bank on the IntraFi network can provide you with a lot of security and convenience. Here are some of the main benefits you can expect:
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More protection: Get insurance for deposits over $250,000.
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less effort: Spread your money across multiple banks without having to open multiple accounts.
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Less management: You just have to manage one bank account and one banking relationship.
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Less fees: Enjoy the benefit of having multiple accounts covered without having to pay fees to each bank.
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Easier tax filing: You only have to manage the tax documents for a bank account.
While the IntraFi network makes it easier to get more insurance coverage, that coverage comes with tradeoffs. Here are some reasons why you might not want to use IntraFi for banking:
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Fewer options: You can’t choose where your money is placed.
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Lower rates: Interest rates are typically lower than what you might find when searching for bank accounts on your own.
The money you deposit through banks on the IntraFi network is definitely safe. In fact, it may be safer than depositing money in out-of-network banks since you get access to greater insurance coverage.
Yes, depositing on the IntraFi network means your money can be spread across multiple banks, but every dollar is FDIC insured. That means you have the full faith and credit of the U.S. government to protect you in the event of a bank failure. If your bank fails, the FDIC will refund the full covered amount or transfer your money to another bank.