Raymond James Bank Deposit Program

Raymond James offers a multibank sweep program that:

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

With this program, available cash in your brokerage account is deposited into interest-bearing deposit accounts at one or more banks, as described in the "Bank Priority Lists" section below.

For accounts that elect the Raymond James Bank Deposit Program (RJBDP) excess funds will be directed to a designated "excess bank" without limit and without regard to maximum-available FDIC coverage.

Managed IRAs and ERISA accounts are not eligible for the multibank sweep program. Managed IRA and ERISA accounts can elect RJBDP – RJ Bank only, whereby uninvested cash will sweep to Raymond James Bank for FDIC insurance coverage of up to $250,000.

To maximize insurance coverage, eligible clients can choose the Raymond James Bank Deposit Program with Client Interest Program (RJBDP with CIP) to provide additional insurance coverage on cash balances that exceed available FDIC coverage. Excess cash from the bank deposit program will be directed to CIP, providing Securities Investor Protection Corporation (SIPC) and excess SIPC coverage.

Interest rates will remain the same between the bank deposit program and CIP.

Bank priority lists

There have recently been some changes to the bank priority lists.

Bank Change made Effective Date
West Bank of West Des Moines, Iowa Bank added October 2, 2017
Pinnacle Bank acquired Bank of North Carolina Bank merger August 25, 2017
Community Bank Bank added July 24, 2017
First Mid-Illinois Bank (First Clover Leaf Bank merged with First Mid-Illinois Bank) Bank merger September 8, 2016
Bank of Hope Name change September 2016
Wells Fargo Bank added September 6, 2016
Origin Bank (formerly Community Trust Bank) Name change October 13, 2015
Bank of India Bank added January 11, 2016

* As with all banks in RJBDP, any participating foreign-owned banks are fully FDIC-insured with U.S. branches and charters; they are governed and operate under the same laws and regulations as all U.S. banks. For privacy and security reasons, all deposits through RJBDP are made with U.S. branches through an omnibus account so your personal information is not shared with the participating banks.

Current priority lists by region are provided below.

Raymond James clients whose brokerage accounts are through an advisor at a bank within the Raymond James Financial Institutions Division have priority lists specific to those banks. Access those lists here.

(See “How the priority lists work” for information on how funds flow between banks.) The following banks are “excess banks,” as described in the “Bank Priority List” section of the disclosures:

  • General Lists: Wells Fargo Bank, N.A., U.S. Bank N.A., Citibank, Raymond James Bank, N.A.
  • For Profit Lists: Citibank, N.A., Barclays Bank Delaware, Raymond James Bank, N.A.

Although you may decline to have funds deposited in any bank in the list, you must have a minimum of one excess bank selected for deposit.

Effective September 29, 2017

FL AR & TX GA AL
Raymond James Bank, N.A. Raymond James Bank, N.A. Raymond James Bank, N.A. Wells Fargo Bank, N.A.
Synchrony Bank U.S. Bank N.A. American Express Centurion Bank Goldman Sachs Bank USA
U.S. Bank N.A. American Express Bank, FSB. Wells Fargo Bank, N.A. State Bank of India
Citibank, N.A. Synchrony Bank Compass Bank Synchrony Bank
PNC Bank, N.A. Wells Fargo Bank, N.A. Goldman Sachs Bank USA American Express Centurion Bank
American Express Bank, FSB. PNC Bank, N.A. State Bank of India West Bank
SunTrust Bank Pacific Western Bank Bank of China U.S. Bank N.A.
Bank of India SunTrust Bank SunTrust Bank Bank of China
Barclays Bank Delaware Bank of India Amarillo National Bank Citibank, N.A.
Wells Fargo Bank, N.A. Barclays Bank Delaware Pacific Western Bank Origin Bank
Bank of China Citibank, N.A. Citibank, N.A. Towne Bank
Pacific Western Bank Bank of China PNC Bank, N.A. SunTrust Bank
Origin Bank Regions Bank U.S. Bank N.A. Raymond James Bank, N.A.
Goldman Sachs Bank USA Bank of Hope Barclays Bank Delaware Regions Bank
Regions Bank Compass Bank Regions Bank Franklin Synergy Bank
The Bank of East Asia Ltd. Pinnacle Bank Franklin Synergy Bank Compass Bank
New York Community Bank First Mid-Illinois B&T The Bank of East Asia Ltd. PNC Bank, N.A.
Towne Bank Franklin Synergy Bank Synchrony Bank Barclays Bank Delaware
First Mid-Illinois B&T Origin Bank Park Sterling Bank Cadence Bank, N.A.
Pinnacle Bank Cadence Bank, N.A. Origin Bank Pinnacle Bank
Cadence Bank, N.A. New York Community Bank First Mid-Illinois B&T The Bank of East Asia Ltd.
Bank of Hope The Bank of East Asia Ltd. Cadence Bank, N.A. Pacific Western Bank
Compass Bank Florida Community Bank, N.A. Associated Bank, N.A. Florida Community Bank, N.A.
Associated Bank, N.A. Associated Bank, N.A. American Express Bank, FSB. Bank of Hope
Grandpoint Bank Grandpoint Bank New York Community Bank American Express Bank, FSB.
LA & MS KY & TN DE, MD, NC, SC, VA, & WV OH & PA
American Express Centurion Bank Raymond James Bank, N.A. Regions Bank Citibank, N.A.
Bank of China U.S. Bank N.A. PNC Bank, N.A. Goldman Sachs Bank USA
Wells Fargo Bank, N.A. Wells Fargo Bank, N.A. Goldman Sachs Bank USA U.S. Bank N.A.
U.S. Bank N.A. Goldman Sachs Bank USA SunTrust Bank Raymond James Bank, N.A.
Synchrony Bank SunTrust Bank Bank of China Synchrony Bank
Raymond James Bank, N.A. American Express Centurion Bank Synchrony Bank Park Sterling Bank
Citibank, N.A. Regions Bank American Express Centurion Bank Wells Fargo Bank, N.A.
PNC Bank, N.A. Synchrony Bank Pinnacle Bank SunTrust Bank
SunTrust Bank PNC Bank, N.A. Barclays Bank Delaware State Bank of India
Union Bank and Trust Company Citibank, N.A. Wells Fargo Bank, N.A. PNC Bank, N.A.
American Express Bank, FSB. Barclays Bank Delaware Franklin Synergy Bank Regions Bank
Regions Bank Bank of China Raymond James Bank, N.A. Bank of China
Compass Bank Compass Bank Citibank, N.A. Compass Bank
Barclays Bank Delaware Origin Bank U.S. Bank N.A. Barclays Bank Delaware
Community Bank Pacific Western Bank The Bank of East Asia Ltd. Origin Bank
Origin Bank Franklin Synergy Bank State Bank of India The Bank of East Asia Ltd.
Franklin Synergy Bank The Bank of East Asia Ltd. Community Bank American Express Bank, FSB.
Pacific Western Bank Pinnacle Bank Compass Bank First Mid-Illinois B&T
Towne Bank Cadence Bank, N.A. American Express Bank, FSB. Franklin Synergy Bank
Cadence Bank, N.A. Associated Bank, N.A. First Mid-Illinois B&T New York Community Bank
Bank of Hope American Express Bank, FSB. Origin Bank Pinnacle Bank
The Bank of East Asia Ltd. Florida Community Bank, N.A. New York Community Bank Bank of Hope
New York Community Bank New York Community Bank Pacific Western Bank Pacific Western Bank
First Mid-Illinois B&T The Bryn Mawr Trust Company Union Bank and Trust Company Associated Bank, N.A.
Associated Bank, N.A. Grandpoint Bank Associated Bank, N.A. Grandpoint Bank
NJ & NY CT & MA ME, NH, RI, & VT IL, IN, MI, & WI
U.S. Bank N.A. Raymond James Bank, N.A. Raymond James Bank, N.A. Raymond James Bank, N.A.
American Express Centurion Bank Bank of China PNC Bank, N.A. American Express Centurion Bank
Raymond James Bank, N.A. SunTrust Bank U.S. Bank N.A. Wells Fargo Bank, N.A.
Barclays Bank Delaware Barclays Bank Delaware Regions Bank State Bank of India
American Express Bank, FSB. West Bank Park Sterling Bank Synchrony Bank
PNC Bank, N.A. U.S. Bank N.A. The Bryn Mawr Trust Company PNC Bank, N.A.
Franklin Synergy Bank Citibank, N.A. Citibank, N.A. Community Bank
Towne Bank Community Bank Wells Fargo Bank, N.A. SunTrust Bank
Synchrony Bank Wells Fargo Bank, N.A. Bank of China Amarillo National Bank
Bank of China Synchrony Bank American Express Centurion Bank Citibank, N.A.
Goldman Sachs Bank USA First Mid-Illinois B&T Goldman Sachs Bank USA Origin Bank
The Bryn Mawr Trust Company Compass Bank SunTrust Bank Goldman Sachs Bank USA
Citibank, N.A. Bank of Hope Origin Bank The Bank of East Asia Ltd.
The Bank of East Asia Ltd. American Express Bank, FSB. Compass Bank Franklin Synergy Bank
Origin Bank PNC Bank, N.A. Pinnacle Bank Barclays Bank Delaware
New York Community Bank The Bank of East Asia Ltd. Synchrony Bank Bank of China
Regions Bank Origin Bank Barclays Bank Delaware Compass Bank
Wells Fargo Bank, N.A. Franklin Synergy Bank Amarillo National Bank U.S. Bank N.A.
Pacific Western Bank Regions Bank Towne Bank Pacific Western Bank
Associated Bank, N.A. Pacific Western Bank Franklin Synergy Bank Associated Bank, N.A.
Bank of Hope Towne Bank Pacific Western Bank New York Community Bank
Compass Bank New York Community Bank The Bank of East Asia Ltd. Bank of India
SunTrust Bank Cadence Bank, N.A. New York Community Bank Bank of Hope
Pinnacle Bank Florida Community Bank, N.A. State Bank of India Regions Bank
Grandpoint Bank Associated Bank, N.A. Associated Bank, N.A. American Express Bank, FSB.
IA, KS, MN, MO, ND, NE, & SD CO & UT ID, MT, NM, OK, & WY AZ, NV, OR, & WA
Citibank, N.A. American Express Bank, FSB. American Express Centurion Bank Raymond James Bank, N.A.
SunTrust Bank U.S. Bank N.A. Bank of China Bank of China
Bank of China Wells Fargo Bank, N.A. West Bank State Bank of India
Synchrony Bank Barclays Bank Delaware U.S. Bank N.A. American Express Centurion Bank
Community Bank Goldman Sachs Bank USA Citibank, N.A. Wells Fargo Bank, N.A.
Barclays Bank Delaware West Bank Synchrony Bank Citibank, N.A.
Pinnacle Bank Manufacturers and Traders Trust Company Bank of India Amarillo National Bank
Regions Bank Raymond James Bank, N.A. Regions Bank Extraco Banks, N.A.
PNC Bank, N.A. Bank of India Extraco Banks, N.A. Park Sterling Bank
Raymond James Bank, N.A. PNC Bank, N.A. Raymond James Bank, N.A. New York Community Bank
Associated Bank, N.A. Citibank, N.A. Barclays Bank Delaware Regions Bank
Wells Fargo Bank, N.A. SunTrust Bank Bank of Hope Barclays Bank Delaware
Compass Bank First Mid-Illinois B&T Union Bank and Trust Company U.S. Bank N.A.
Goldman Sachs Bank USA Compass Bank Wells Fargo Bank, N.A. PNC Bank, N.A.
First Mid-Illinois B&T Bank of China SunTrust Bank SunTrust Bank
American Express Bank, FSB. The Bank of East Asia Ltd. Origin Bank Compass Bank
Towne Bank Amarillo National Bank Goldman Sachs Bank USA Goldman Sachs Bank USA
New York Community Bank Pacific Western Bank PNC Bank, N.A. Synchrony Bank
The Bank of East Asia Ltd. Franklin Synergy Bank The Bank of East Asia Ltd. Bank of Hope
Origin Bank Pinnacle Bank Pinnacle Bank American Express Bank, FSB.
Franklin Synergy Bank Origin Bank Compass Bank Pacific Western Bank
Pacific Western Bank Bank of Hope First Mid-Illinois B&T Manufacturers and Traders Trust Company
Bank of India Synchrony Bank Pacific Western Bank The Bank of East Asia Ltd.
Bank of Hope Regions Bank New York Community Bank Pinnacle Bank
U.S. Bank N.A. American Express Centurion Bank Associated Bank, N.A. Florida Community Bank, N.A.
CA AK, DC, HI, & Other Business Accounts (Except AK, HI, Other) Business Accounts (AK, HI, Other)
Goldman Sachs Bank USA Goldman Sachs Bank USA Raymond James Bank, N.A. Raymond James Bank, N.A.
Raymond James Bank, N.A. Raymond James Bank, N.A. Bank of China Compass Bank
American Express Centurion Bank SunTrust Bank Barclays Bank Delaware Franklin Synergy Bank
SunTrust Bank Citibank, N.A. Origin Bank Community Bank
West Bank Barclays Bank Delaware Cadence Bank, N.A. Barclays Bank Delaware
Community Bank PNC Bank, N.A. Compass Bank Florida Community Bank, N.A.
U.S. Bank N.A. Wells Fargo Bank, N.A. The Bank of East Asia Ltd. Bank of Hope
Citibank, N.A. Union Bank and Trust Company Union Bank and Trust Company Pinnacle Bank
Pacific Western Bank Extraco Banks, N.A. Franklin Synergy Bank Park Sterling Bank
Bank of India New York Community Bank Pinnacle Bank Amarillo National Bank
Synchrony Bank Pinnacle Bank Florida Community Bank, N.A. First Mid-Illinois B&T
Bank of Hope U.S. Bank N.A. Bank of Hope West Bank
Union Bank and Trust Company Compass Bank First Mid-Illinois B&T New York Community Bank
State Bank of India American Express Centurion Bank Towne Bank Origin Bank
The Bank of East Asia Ltd. Synchrony Bank New York Community Bank Cadence Bank, N.A.
Wells Fargo Bank, N.A. Origin Bank Park Sterling Bank Union Bank and Trust Company
Franklin Synergy Bank State Bank of India Extraco Banks, N.A. Towne Bank
Compass Bank Cadence Bank, N.A. Amarillo National Bank Extraco Banks, N.A.
Bank of China First Mid-Illinois B&T Citibank, N.A. Citibank, N.A.
Origin Bank Franklin Synergy Bank Grandpoint Bank Grandpoint Bank
PNC Bank, N.A. Pacific Western Bank
New York Community Bank Towne Bank
Cadence Bank, N.A. American Express Bank, FSB.
Regions Bank Bank of Hope
American Express Bank, FSB. Florida Community Bank, N.A.

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.

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.

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.

Important Information for Raymond James’ Clients (PDF)