When you deposit a large amount with us, we'll place your funds into CDs issued by other banks in the the CDARS® Network in increments under the standard FDIC insurance maximum, making both principal and interest eligible for FDIC coverage.
CDARS is an ideal program for organizations and individuals, including:
- Nonprofit organizations
- Public fund managers
- Financial advisors
- Credit unions
Advantages of CDARS include:
- Access to multimillion-dollar FDIC insurance coverage, including the principal and interest of large deposits
- Daily compounding interest
- A set maturity date
- A single consolidated account statement for all funds
By working directly with BB&T, you can eliminate:
- Time spent managing multiple bank relationships
- The effort of manually consolidating monthly statements
- Time spent administering various interest rates per maturity
- The need to monitor changing collateral on an ongoing basis
- Time spent organizing interest disbursements from various sources
What you'll need to open an account
Here's all the information you'll need to open your account online or in a branch. Please note: You'll need this information for each of your business owners, beneficial owners (25% stake or more), and authorized signers. Learn more about the requirements for opening a business account
For the organization
- Federal Tax ID
- Legal business name
- "Doing business as" name, if applicable
- Business incorporation details and issue date
- State registrations, if applicable
- Business address (both physical and mailing addresses)
- Stock or ticker symbol, if publicly traded
For business owners
- Home address
- Date of birth
- Social Security or Tax ID number
- A copy of your government-issued ID (See details about the requirements for your government-issued ID)
- Business title (Controlling Person only)
- Ownership percentage (Beneficial Owners only)
Opening your account at a branch? Before your visit, please complete the Beneficial Ownership Certification (PDF).
Opening your account online? You'll be able to enter the required information in your application.
Ready to get started?
Not convinced that CDARS is right for you?
For a complete list of account fees, see our Business Services Pricing Guide (PDF).
See our Commercial Bank Services Agreement (PDF) for more information.
Learn more about your account, including fees and ways you can avoid them.
Branch Banking and Trust Company, Member FDIC.