Money Market Account Xtra (MMAX) provides the flexibility and additional insurance coverage you and your clients need for larger deposits. Whether your customers are individuals, institutional or a public entity MMAX can provide the liquidity, expanded FDIC insurance and flexibility you need. MMAX clients can utilize the CDC Network to guarantee full FDIC insurance coverage for the depositor.
Our MMAX clients have access to our marketing support or use an established MMAX marketing campaign of their own.
The key benefits to MMAX are:
CDC provides confirmation and monthly statements for both the depositor and the financial intemediary. The depositor statements can be provided with the financial intermediaries logo so that the relationship stays between the financial intermediary and its depositor.
The Network includes well capitalized banks that are seeking funds. The identity of each depositor is never disclosed to the Network banks, this insures that your clients are well protected. Should the depositors have funds with other banks, those bank names are removed as potential recipients of your client’s funds.
The custodian of the program includes Wells Fargo Bank, N.A. As the custodian, they are responsible for handling depositor's funds and assets.
In addition, Wells Fargo:
The MMAX Advantage