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What is the process for making a CDARS deposit into the affected banks?

April 26, 2017affected Banks cdars deposit process

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What is the process for making a CDARS deposit into the affected banks?

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Contact the bank directly, explain that you want to make a CDARS deposit as part of the Gulf Challenge, and negotiate the term and the rate. You will need to sign a Deposit Placement Agreement (DPA) before transferring funds. Deposits are placed through the CDARS network every Wednesday with funds settlement on Thursday. To find participating banks, click here or call Jennifer Perkins at (703) 292-3395 or (866) 776-6426 ext. 3395 at Promontory.