Certificate of Deposit Account Registry Service - CDARS

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Dictionary Says

Definition of 'Certificate of Deposit Account Registry Service - CDARS'

A program that allows the public to spread money around various banks. The purpose of CDARS is to help people who invest in certificate of deposits or CDs to stay below FDIC insurance limits at any given bank. Usually, to avoid exceeding FDIC limits at a bank, consumers deposit their money in different banks. CDARS is a program that eliminates the need to go from bank to bank in order to deposit money, and is comprised of a network of banks.

Using CDARS is as simple as finding a participating bank close to you (local bank) and depositing your money with the bank. The local bank then spreads your money across several banks, ensuring that the amount of money in each bank is never above the FDIC limit. As part of the CDARS program, the consumer conducts business with only the local bank and receives one single statement that contains information for each account.    
Investopedia Says

Investopedia explains 'Certificate of Deposit Account Registry Service - CDARS'

Certificate of Deposit Account Registry Service (CDARS) is a program run by Promontory Inter-financial Network (PIN). PIN was founded by the former comptroller of currency, Eugene Ludwig.



   

Search results for

'Certificate of Deposit Account Registry Service (CDARS)'

  • Certificates Of Deposit: Introduction | Investopedia

    http://www.investopedia.com/university/certificate-of-deposit-cd/
    ... The Certificate of Deposit Account Registry Service (CDARS) offers up to $50
    million in FDIC insurance coverage with a single bank deposit. ...

  • Certificates Of Deposit: Introduction | Investopedia

    http://www.investopedia.com/university/certificate-of-deposit-cd/default.asp
    ... The Certificate of Deposit Account Registry Service (CDARS) offers up to $50
    million in FDIC insurance coverage with a single bank deposit. ...

  • 9 Tips For Safeguarding Your Accounts

    http://www.investopedia.com/articles/pf/08/account-protection.asp
    ... When you invest at least $10,000 in a CD with a Certificate of Deposit Account Registry
    Service (CDARS) member bank, you can get up to $50 million in FDIC ...

  • Top 10 Investments For Baby Boomers

    http://www.investopedia.com/articles/retirement/08/investments-for-baby-boomers.asp
    ... money.). A service called the Certificate of Deposit Account Registry Service (CDARS)
    allows you to deposit more than the FDIC limit at participating banks. ...

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