IDC Deposits


DEFINITION of 'IDC Deposits'

IDC Deposits Corp. oversees the MMAX (Money Market Account Extra) program which provides depositors with an efficient way to make large deposits – up to a maximum of $5 million – and secure FDIC insurance.

Expanded FDIC coverage is attractive to depositors, particularly when financial markets are experiencing significant volatility and firms (commercial entities, public agencies and individuals) want a safe place to park cash. The deposit is divided up between a network of 50+ IDC Deposit Network banks nationwide to meet FDIC insurance requirements.


Wells Fargo is the custodian for the MMAX account structure. By dividing a single large deposit into smaller amounts among Network banks, lenders can ensure that the depositor's principal and interest are eligible for full FDIC protection. MMAX account holders are able to make up to six withdrawals from their account monthly.

  1. Money Market Account

    An interest-bearing account that typically pays a higher interest ...
  2. Money Market Account Extra - MMAX

    An account structure that provides depositors with the ability ...
  3. FDIC Insured Account

    An account that meets the requirements to be covered or insured ...
  4. Insured Financial Institution

    Any bank or savings institution that is covered by some form ...
  5. Money Market

    A segment of the financial market in which financial instruments ...
  6. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
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