What is an insured deposit, and how do FDIC sweeps work? An insured deposit program, also known as an FDIC sweep program, is a liquid alternative overnight investment. If you're a financial intermediary, a sweep program can integrate with your customers’ accounts. Leveraging expanded FDIC insurance coverage, insured deposits have unique features that other accounts, like money market funds, cannot provide. Whether you have customers looking to protect their cash through expanded FDIC insurance or you are a bank in the market for deposits, UMB's compliant, simple to manage solution can meet your unique needs. This video is intended for informational purposes only, please consult your own financial and tax professionals for advice about your specific circumstances. #umbbank #countonmore #umbbanking
