You're Covered at Blue Foundry Bank
We understand the importance of your financial assets and the need to protect them. That’s why we offer ICS® (IntraFi® Cash ServiceSM), so you’re covered with additional insurance once your account relationship at Blue Foundry Bank exceeds standard FDIC limits. When utilizing this product, your deposit is divided into smaller amounts and placed into demand deposit accounts (when using ICS®) at other banks that are members of IntraFi®'s network. With this Blue Foundry Bank services, other banks provide the necessary FDIC coverage to insure your entire deposit with us, all managed through our partnership.
Businesses can access competitive interest rates in addition to expanded FDIC insurance coverage through these services.
To get started, please visit your local branch or call 888-931-BLUE.
BLUE CARBON EDGE® BUSINESS ICS® SWEEP
Get all the benefits you would receive from our Blue Carbon Edge® Business Checking account with full FDIC Insurance coverage of up to $135 million with a 2.60% APY1, all while keeping your funds liquid.
No monthly maintenance fees and maintain a balance of $250,000+ in a Blue Carbon Edge® Business Checking account
Improved interest rates2
Dedicated Answer Desk # & Transition Team
Unlimited incoming & outgoing wire transfers
Free Remote Deposit Capture service and single-feed scanner
Up to $200 credit towards Merchant Services equipment3
Free Fraud Monitoring with Positive Pay
Free ACH Origination Services with Same Day ACH available
Up to $150 credit towards First Order of Checks3
Early Pay & Blue Balance Access No Fee Overdraft Assistance available
Avoid a $5 monthly statement fee by enrolling in eBanking and selecting eStatements
Visit your local branch or call 888-931-BLUE for current rates.
1 Deposits for business customers placed through Intrafi Cash ServiceSM (ICS®) currently receive an APY (Annual Percentage Yield) of 2.60%, based on an interest rate of 2.57%. This is a variable rate and interest rate may change any time after account opening at the Bank’s discretion. Business customers must have a Minimum Opening Deposit of $250,000 in Blue Carbon Edge® Business Checking in order to earn interest. Customers are eligible for ICS® when their initial Blue Foundry Bank relationship exceeds FDIC insurance limit. ICS® customers must maintain at least $250,000 in their Blue Carbon Edge® Business Checking at all times. The target balance in the Blue Carbon Edge® ICS® Sweep account must be set accordingly.
2 Rate is subject to change after account opening. Fees may reduce the earnings on the account.
3 If you purchase a Merchant Services device, Blue Foundry Bank will credit your account up to $200. You will receive a credit up to $150 for your first order of checks. Your checking account must remain open until the credit(s) are posted, which is within 180 days after account opening date.
Deposit placement through the Certificate of Deposit Account Registry Service (CDARS®) or Intrafi Cash ServiceSM (ICS®) is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS® or ICS® satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi, CDARS and ICS are registered service marks of IntraFi Network, LLC.
Customers are eligible for ICS® when their initial Blue Foundry Bank relationship exceeds FDIC insurance limit.