All deposits at Preferred Bank are covered by the standard FDIC Insurance amount of $250,000 per customer. If your deposits exceed $250,000, we offer additional FDIC insurance coverage through IntraFi® Network Deposits CD accounts and DDA/MMDA accounts. When you utilize these services, we’ll split your deposit into increments less than $250,000 and place these funds across our network of well-capitalized banks. With this arrangement, your entire deposit will remain fully protected, while you continue to work with Preferred Bank.
Certificate of Deposit (CD) Accounts
With CD accounts, you can access insurance on deposits up to $50 million and earn interest rates comparable to CDs. Maturities range from 4 weeks to two years.
DDA/MMDA allows you to place funds into demand deposit and/or money market deposit accounts. You can deposit up to $100 million for each account type. With this option, you may receive expanded insurance protection and still have the flexibility to access your funds when you need them.
CD vs DDA/MMDA
CD
DDA/MMDA
Access to Funds
Early withdrawals before maturity are subject to penalty
Anytime without penalty
Maximum Deposit Limit
$50 Million
$100 Million
Combined Deposit Limit*
$150 Million
$150 Million
Account Holders
Customers who want FDIC insurance coverage on large deposits and do not require immediate access to funds.
Customers who want FDIC insurance coverage on large deposits and need liquidity with their funds.
1.* Higher deposit limits may be accepted on exceptional basis.
2. Funds may be submitted for placement only after a depositor enters into the IntraFi Network Deposits CD or DDA/MMDA Deposit Placement Agreement with Preferred Bank. The Agreement contains important terms and conditions regarding the placement of funds by us. Please read the agreement carefully before signing it. Both CD accounts and DDA/MMDA accounts incur a monthly fee.
3.Contact our branch for the details or call us toll-free at (888) 673-1808.
All deposits at Preferred Bank are covered by the standard FDIC Insurance amount of $250,000 per customer. If your deposits exceed $250,000, we offer additional FDIC insurance coverage through IntraFi® Network Deposits CD accounts and DDA/MMDA accounts.
Q: Can I have more than $250,000 of deposit insurance coverage at one FDIC-insured bank? A: Yes. The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled.
Enjoy the VeraBank relationship you know and trust, with deposit insurance up to $100,000,000. Contact our team at treasurymanagement@verabank.com or 903-657-8525 to learn more or enroll.
Wealthy people do not leave large amounts of money in saving/checking accounts earning no interest or income. Instead they invest their money in stocks, bonds, real estate, mutual funds, etc.
The standard maximum deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank.
Hobby: LARPing, Kitesurfing, Sewing, Digital arts, Sand art, Gardening, Dance
Introduction: My name is Amb. Frankie Simonis, I am a hilarious, enchanting, energetic, cooperative, innocent, cute, joyous person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.