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Raymond James Cash Sweep Programs

Raymond James Bank Deposit Program

As of September 8, 2009, Raymond James implemented an enhanced multibank sweep program that:

  • Provides greater Federal Deposit Insurance Corporation (FDIC) insurance coverage and
  • Offers more competitive interest rates.

With the new program, available cash in your brokerage account will be deposited through the Insured Network DepositSM (INDSM) service into interest-bearing deposit accounts at one or more banks, as described in the “Bank Priority Lists” section below.

Bank Priority Lists by Region

Current priority lists by region are provided below. (See “How the priority lists work” for information on how funds flow between banks.) Banks marked with an asterisk (*) are “excess banks,” as described in “How the priority lists work.” Although you may decline to have funds deposited in any bank in the list, only one excess bank may be declined.

Updated March 10, 2010

Florida Texas & Arkansas North East (CT, MA, ME, NH, NJ, NY, PA, RI, VT) Atlantic (DC, DE, GA, MD, NC, SC, VA, WV)
Raymond James Bank* Raymond James Bank* Raymond James Bank* Raymond James Bank*
Goldman Sachs Bank Goldman Sachs Bank Goldman Sachs Bank Goldman Sachs Bank
First Tennessee Bank, N.A. Citibank, N.A. Fifth Third Bank Citibank, N.A.
Citibank, N.A. American Express Centurion Bank* American Express Centurion Bank* American Express Centurion Bank*
Barclays Bank Delaware* Fifth Third Bank Barclays Bank Delaware* Fifth Third Bank
American Express Bank, FSB Barclays Bank Delaware* American Express Bank, FSB New York Community Bank*
Bank of North Carolina Union Bank and Trust First Tennessee Bank, N.A. Barclays Bank Delaware*
Fifth Third Bank The Camden National Bank Citibank, N.A. The Camden National Bank
New York Community Bank* American Express Bank, FSB Bank of North Carolina American Express Bank, FSB
American Express Centurion Bank* First Tennessee Bank, N.A. The Camden National Bank First Tennessee Bank, N.A.
Union Bank and Trust Union Bank, N.A. Union Bank and Trust Union Bank and Trust
Union Bank, N.A. New York Community Bank* Bryn Mawr Bank and Trust Bank of North Carolina
The Camden National Bank Bryn Mawr Bank and Trust Monarch Bank Union Bank, N.A.
SunTrust Bank Bank of North Carolina First Clover Leaf Bank SunTrust Bank
Bryn Mawr Bank and Trust SunTrust Bank New York Community Bank* Monarch Bank
Monarch Bank Monarch Bank Union Bank, N.A. First Clover Leaf Bank
First Clover Leaf Bank First Clover Leaf Bank SunTrust Bank Bryn Mawr Bank and Trust
Central (IL, IN, KS, NE, MO, OH) North (IA, MI, MN, ND, SD, WI) South & West (AL, CO, ID, KY, LA, MS, MT, NM, NV, OK, TN, UT, WY) Pacific (AK, AZ, HI, OR, CA, WA, International)
American Express Centurion Bank* Raymond James Bank* Raymond James Bank* Citibank, N.A.
Raymond James Bank* Citibank, N.A. Fifth Third Bank Raymond James Bank*
Barclays Bank Delaware* Goldman Sachs Bank Goldman Sachs Bank Goldman Sachs Bank
Goldman Sachs Bank American Express Bank, FSB American Express Centurion Bank* American Express Centurion Bank*
Fifth Third Bank American Express Centurion Bank* American Express Bank, FSB Fifth Third Bank
Citibank, N.A. New York Community Bank* Barclays Bank Delaware* Barclays Bank Delaware*
American Express Bank, FSB Barclays Bank Delaware* Citibank, N.A. American Express Bank, FSB
Union Bank and Trust Union Bank and Trust New York Community Bank* The Camden National Bank
First Tennessee Bank, N.A. First Tennessee Bank, N.A. Union Bank, N.A. First Tennessee Bank, N.A.
Union Bank, N.A. Fifth Third Bank First Tennessee Bank, N.A. Bank of North Carolina
The Camden National Bank Bank of North Carolina Bank of North Carolina First Clover Leaf Bank
New York Community Bank* Monarch Bank Monarch Bank Monarch Bank
Bryn Mawr Bank and Trust Bryn Mawr Bank and Trust Union Bank and Trust Bryn Mawr Bank and Trust
SunTrust Bank The Camden National Bank SunTrust Bank Union Bank, N.A.
Monarch Bank First Clover Leaf Bank Bryn Mawr Bank and Trust SunTrust Bank
Bank of North Carolina Union Bank, N.A. First Clover Leaf Bank New York Community Bank*
First Clover Leaf Bank SunTrust Bank The Camden National Bank Union Bank and Trust


The FDIC assigns unique certificate numbers to identify institutions and for the issuance of insurance certificates. Below are the certification numbers for all banks participating in the program. For additional information on insurance coverage and limits, please view the Important Disclosures about Raymond James’ Cash Sweep Programs.

Bank

FDIC Cert #

American Express Bank, FSB

35328

American Express Centurion Bank

27471

Bancorp Bank

35444

Bank of North Carolina

33527

Barclays Bank

57203

Bryn Mawr Bank & Trust Co.

11866

Byron Bank

11405

Camden National Bank, The

4255

Capital One Bank

33954

Citibank

7213

Fifth Third Bank

6672

First Clover Leaf Bank

30330

First Tennesse Bank

4977

Goldman Sachs Bank USA

57485

Monarch Bank

34945

Morton Community Bank

18429

New York Community Bank

16022

Raymond James Bank

33893

SunTrust Bank

867

Union Bank, NA

22826

Union Bank & Trust

13421

United Western Bank

31293

How the Priority Lists Work

Raymond James establishes contracts with multiple banks, which are included in one or more bank priority lists. Your account’s legal address of record determines which list is used to determine the order in which your available cash in your brokerage account will be deposited into interest-bearing deposit accounts at one or more of the banks set forth on the predetermined list.

If your cash balance exceeds the FDIC insurance limit for all funds at the first bank on the list, the excess cash will be deposited in the next bank. If you still have excess cash, those funds will be deposited in the third bank Raymond James has designated. This process continues through all banks on the priority list, providing FDIC coverage up to $2.5 million, or $5 million for joint accounts. As always, you have immediate access to your funds should you wish to withdraw or reinvest them.

Your priority list may also include one or more excess banks that will accept funds from retirement accounts without limit and without regard to the maximum applicable deposit insurance amount if all banks on the priority list have received funds up to the applicable deposit limit. If all your funds are withdrawn from an excess bank, the next time your funds are available for deposit in an excess bank they may be deposited in a different excess bank. This may also apply to certain non-retirement accounts that do not elect to have excess funds swept to the Raymond James Client Interest Program, as described below.

For non-retirement accounts, if all banks on the priority list have received your funds up to the applicable deposit limit, your next available funds will be deposited in the Raymond James Client Interest Program (and covered by SIPC/Excess SIPC insurance), as long as you have not opted for an alternative.

Legislation temporarily increasing deposit insurance coverage limits from $100,000 per depositor to $250,000 took effect October 3, 2008 and is currently set to expire December 31, 2013. IRAs and certain other retirement accounts insured for up to $250,000 prior to this legislation will continue to be insured for that amount after December 31, 2013, barring any further legislative changes. The deposit insurance coverage limits refer to the total of all deposits that an account holder has in the same ownership categories at each FDIC-insured institution. Visit fdic.gov for more information.
Raymond James & Associates, Inc. member New York Stock Exchange / SIPC and Raymond James Financial Services, Inc. member FINRA / SIPC are subsidiaries of Raymond James Financial, Inc.