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CDARS - Certificate of Deposit Account Registry Service®

One Bank.

Access multi-million dollar FDIC insurance coverage by working with just us – a bank you know and trust.

One Rate. 

Negotiate one rate with our bank for each CD maturity and enjoy the option of reinvesting funds through a simple process.

One Statement. 

Receive one easy-to-read statement from our bank summarizing all of your business’ CD holdings.

Through the CDARS service, we can provide your business with easy access to multi-million dollar FDIC protection on its CD investments. Contact The Bank of Missouri at 888-547-6541 or use our convenient online form to get more information on CDARS.

 FAQs

What is CDARS?

CDARS® – the Certificate of Deposit Account Registry Service® – is the most convenient way to access FDIC insurance on multi-million-dollar CD deposits and to earn rates that may compare favorably to Treasuries and money market mutual funds. 

With CDARS, you sign one CDARS Deposit Placement Agreement with our bank, earn one interest rate per maturity, and receive one regular statement.

It's that easy!

Note: If you want your funds placed in interest-bearing savings accounts with the flexibility to withdraw funds up to six times per month, take a look at ICSSMInsured Cash SweepSM Service – which also provides access to multi-million-dollar FDIC insurance.

How does CDARS work?

We are a member of a special network.  When your business places a large amount with us, we place the funds into CDs issued by other banks in the network – in increments of less than the standard FDIC insurance maximum– so that both principal and interest are eligible for complete FDIC protection. As a result, your business can receive coverage from many banks while working with just one.

  1. You sign a CDARS Deposit Placement Agreement and a custodial agreement, and then invest money with The Bank of Missouri.
  2. Your funds are placed using the CDARS service.
  3. Your CDs are issued by other members in the CDARS Network.
  4. You receive confirmation of your CDs from The Bank of Missouri.
  5. You receive consolidated interest payments and statements through The Bank of Missouri.

What else should I know?

With access to full insurance, your business can say “goodbye” to surety bonds, and collateralization requirements.  There also is no need to manually consolidate account statements or interest disbursements.  In short, the benefits of one bank, one rate, and one statement can reduce your administrative burdens (especially during tax and financial reporting seasons), providing you and members of your organization with more time to focus on profit-generating activities. 

As always, your business’ confidential account information remains protected.

What benefits does CDARS® offer me?

CDARS® offers multiple benefits to depositors who want to combine the security of access to FDIC insurance with the convenience of working directly with just one financial institution.

Peace of Mind. Using the CDARS service, you can access multi-million-dollar FDIC insurance on CD investments.1

One Relationship. You work directly with The Bank of Missouri – a financial institution you know and trust.

One Rate. You negotiate one interest rate per maturity on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates per maturity or manually tally disbursements for each CD.

One Statement. You receive one regular statement detailing your CD investments. You no longer need to manually consolidate statements at the end of each month, quarter, or year.

No Hidden Fees. You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you see is the rate you get.

No Ongoing Collateralization. Because CDARS deposits are eligible for FDIC protection, you may not need to continually collateralize your deposits. This can eliminate the time-consuming task of tracking changing collateral values on a recurring basis.2

A Wide Variety of Maturities. You can select from various maturities – ranging from 4 weeks to 260 weeks (5 years) – and choose the terms that best suit your investment needs.

Community Investment. Your funds can support lending initiatives that strengthen your local community.3

[1] Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with The Bank of Missouri. This agreement contains important information and conditions regarding the placement of funds.
[2] If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through CDARS or a particular CDARS transaction satisfies those restrictions.
[3] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, The Bank of Missouri can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, The Bank of Missouri may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.

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Funds may be submitted for placement only after a depositor enters into an agreement with us. With your consent, we may choose to receive fee income instead of bringing the full amount of your deposits back to our bank, which may not satisfy your local investment goals/mandates. CDARS is a registered service mark of Promontory Interfinancial Network, LLC.