Distributed Deposits

Distributed Deposits, our cash sweep solution for the innovation economy, allows you to chart your company's growth with peace of mind through liquidity management, competitive yield, and access to millions in aggregate FDIC protection across a network of banks.

What is Distributed Deposits?

Distributed Deposits is our smart, seamless cash management solution designed for businesses to maximize protection, liquidity, and convenience. This product features automatic placement of excess funds into accounts at FDIC-insured banks, unlimited daily transactions, and competitive interest rates* for HSBC accounts all through a single account. We handle the complexity behind the scenes, so you can stay focused on building, investing, and scaling.

Benefits of cash sweep accounts

  • For businesses maintaining balances above $250,000, standard FDIC coverage at a single bank may not be enough. With our Distributed Deposits account, automatically place excess cash into insurance backed deposits across participating banks. Our solution expands your protection to millions in aggregate FDIC insurance across network banks.

  • Manage your HSBC Distributed Deposits with the simplicity of a single account. Effortlessly view your balances and placements, manage bank exclusions, and download statements via HSBCnet** and the Depositor Control Panel, to help your business stay agile and secure.

  • With Distributed Deposits, unlock the benefit of full day immediate access to funds. Make unlimited deposits, withdrawals, and payments, allowing your cash to work for you without any compromise.

How Distributed Deposits works

Distributed Deposits provides expanded protection and simplicity that support your broader growth ambitions.

When your cash exceeds a target balance set by you, excess funds will be automatically placed into FDIC insured deposits across a network of participating banks, providing access to millions of dollars of aggregate FDIC insurance. This allows you to increase your total coverage while keeping a simplified banking relationship. You continue to manage your cash through a single account with full visibility and control via HSBCnet** and the Depositor Control Panel.

We handle the process behind the scenes so that you can focus on what matters most – driving your business forward.

    HSBC Bank USA, N.A., Member FDIC provides you with your banking services associated with your Distributed Deposits account. As part of a relationship with IntraFi, IntraFi offers deposit placement services through its network of FDIC insured financial institutions. IntraFi is not a financial institution and is not FDIC insured.

    A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply.

    Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA 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 an IntraFi service satisfies any restrictions on its deposits. IntraFi and ICS are registered service marks of IntraFi LLC.

    HSBC is a member of the HSBC Group of affiliates. In the United States, deposit products including deposits made through the HSBC Innovation Banking division are offered by HSBC Bank USA N.A., Member FDIC. All Rights Reserved.

    All United States persons (including entities) are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to the U.S. and non-U.S. accounts. U.S. persons should consult a tax advisor for more information.

    *HSBC reserves the right to change the interest rate at any time and at its sole discretion.

    **HSBCnet services are provided in the U.S. by HSBC Bank USA, N.A. (“HSBC”) and all transactions are subject to U.S. sanction regulations. HSBCnet features and functionality vary by country.