CDARS -- the Certificate of Deposit Account Registry Service -- remains one of the best ways to offer investors who want to combine the security of access to FDIC insurance with the convenience of working with just one financial institution. CDARS lets customers manage one relationship, earn one rate and receive one account statement. This can save them from entering into multiple rate negotiations and manually consolidating account statements. With CDARS, banks can receive matching deposits or, with customer consent, fee income in return for its placements. Banks that receive matching funds maintain the full amount of their customers original deposits on their books.
CDARS is win-win for banks, customers Anonymous Texas Banking; Mar 2010; 99, 3; Docstoc pg. 22 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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