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
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
Pacific Western Bank Bank added December 29, 2015
PNC Bank Bank added April 1, 2015

* 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 August 10, 2017

FL AR & TX GA AL
Raymond James Bank, N.A. Raymond James Bank, N.A. Raymond James Bank, N.A. Regions Bank
Synchrony Bank U.S. Bank N.A. Wells Fargo Bank, N.A. Goldman Sachs Bank USA
U.S. Bank N.A. American Express Bank, FSB. American Express Centurion Bank State Bank of India
Citibank, N.A. Synchrony Bank Compass Bank Synchrony Bank
American Express Bank, FSB. Wells Fargo Bank, N.A. Goldman Sachs Bank USA The Bank of East Asia Ltd.
PNC Bank, N.A. PNC Bank, N.A. State Bank of India American Express Centurion Bank
SunTrust Bank Pacific Western Bank Bank of China Bank of China
Bank of India Associated Bank, N.A. Associated Bank, N.A. Citibank, N.A.
Barclays Bank Delaware Bank of India Amarillo National Bank Origin Bank
Wells Fargo Bank, N.A. Barclays Bank Delaware Pacific Western Bank Towne Bank
Bank of China Citibank, N.A. SunTrust Bank SunTrust Bank
Pacific Western Bank Bank of China Citibank, N.A. Raymond James Bank, N.A.
Origin Bank Regions Bank U.S. Bank N.A. U.S. Bank N.A.
Goldman Sachs Bank USA The Bank of East Asia Ltd. PNC Bank, N.A. Franklin Synergy Bank
Regions Bank SunTrust Bank Regions Bank American Express Bank, FSB.
The Bank of East Asia Ltd. Compass Bank Franklin Synergy Bank Wells Fargo Bank, N.A.
New York Community Bank First Mid-Illinois B&T The Bank of East Asia Ltd. PNC Bank, N.A.
Towne Bank Franklin Synergy Bank American Express Bank, FSB. Barclays Bank Delaware
First Mid-Illinois B&T Origin Bank Synchrony Bank Cadence Bank, N.A.
Associated Bank, N.A. Bank of Hope Barclays Bank Delaware Associated Bank, N.A.
Cadence Bank, N.A. New York Community Bank Origin Bank Florida Community Bank, N.A.
Bank of Hope Florida Community Bank, N.A. First Mid-Illinois B&T Pacific Western Bank
Compass Bank Cadence Bank, N.A. Cadence Bank, N.A. Compass Bank
Grandpoint Bank Grandpoint Bank New York Community Bank Bank of Hope
Bank of North Carolina Bank of North Carolina Park Sterling Bank New York Community Bank
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 Wells Fargo Bank, N.A. PNC Bank, N.A. Goldman Sachs Bank USA
Regions Bank U.S. Bank N.A. Goldman Sachs Bank USA U.S. Bank N.A.
American Express Bank, FSB. Goldman Sachs Bank USA SunTrust Bank Regions Bank
Synchrony Bank SunTrust Bank Bank of China Synchrony Bank
U.S. Bank N.A. American Express Centurion Bank Synchrony Bank Park Sterling Bank
Citibank, N.A. Regions Bank Community Bank Associated Bank, N.A.
Union Bank and Trust Company Florida Community Bank, N.A. Bank of North Carolina SunTrust Bank
The Bank of East Asia Ltd. PNC Bank, N.A. Barclays Bank Delaware State Bank of India
PNC Bank, N.A. Citibank, N.A. American Express Centurion Bank PNC Bank, N.A.
Raymond James Bank, N.A. Barclays Bank Delaware Franklin Synergy Bank Wells Fargo Bank, N.A.
Associated Bank, N.A. Associated Bank, N.A. Raymond James Bank, N.A. Raymond James Bank, N.A.
Wells Fargo Bank, N.A. Bank of China Wells Fargo Bank, N.A. American Express Bank, FSB.
SunTrust Bank Origin Bank American Express Bank, FSB. The Bank of East Asia Ltd.
Community Bank American Express Bank, FSB. The Bank of East Asia Ltd. Origin Bank
Origin Bank Franklin Synergy Bank State Bank of India Barclays Bank Delaware
Franklin Synergy Bank The Bank of East Asia Ltd. Citibank, N.A. Compass Bank
Pacific Western Bank Pinnacle Bank Compass Bank First Mid-Illinois B&T
Compass Bank Cadence Bank, N.A. U.S. Bank N.A. Franklin Synergy Bank
Cadence Bank, N.A. Pacific Western Bank First Mid-Illinois B&T New York Community Bank
Bank of Hope Compass Bank Origin Bank Bank of China
Towne Bank Synchrony Bank New York Community Bank Bank of Hope
New York Community Bank New York Community Bank Associated Bank, N.A. Pacific Western Bank
Barclays Bank Delaware Grandpoint Bank Union Bank and Trust Company Grandpoint Bank
First Mid-Illinois B&T Bank of North Carolina Pacific Western Bank Bank of North Carolina
NJ & NY CT & MA ME, NH, RI, & VT IL, IN, MI, & WI
U.S. Bank N.A. Raymond James Bank, N.A. U.S. Bank N.A. Raymond James Bank, N.A.
American Express Centurion Bank Bank of China Regions Bank Wells Fargo Bank, N.A.
Raymond James Bank, N.A. SunTrust Bank PNC Bank, N.A. American Express Centurion Bank
Barclays Bank Delaware Barclays Bank Delaware Park Sterling Bank State Bank of India
American Express Bank, FSB. U.S. Bank N.A. The Bryn Mawr Trust Company Synchrony Bank
PNC Bank, N.A. Citibank, N.A. Raymond James Bank, N.A. PNC Bank, N.A.
Franklin Synergy Bank Community Bank Citibank, N.A. American Express Bank, FSB.
Towne Bank Wells Fargo Bank, N.A. The Bank of East Asia Ltd. SunTrust Bank
Synchrony Bank Synchrony Bank Associated Bank, N.A. Amarillo National Bank
Bank of China First Mid-Illinois B&T American Express Centurion Bank Community Bank
Goldman Sachs Bank USA Compass Bank Goldman Sachs Bank USA Citibank, N.A.
The Bryn Mawr Trust Company Bank of Hope Amarillo National Bank Origin Bank
Citibank, N.A. American Express Bank, FSB. Origin Bank Goldman Sachs Bank USA
The Bank of East Asia Ltd. PNC Bank, N.A. SunTrust Bank The Bank of East Asia Ltd.
Origin Bank The Bank of East Asia Ltd. Bank of North Carolina Franklin Synergy Bank
New York Community Bank Origin Bank Pinnacle Bank Barclays Bank Delaware
Regions Bank Franklin Synergy Bank Synchrony Bank Bank of China
Wells Fargo Bank, N.A. Regions Bank Barclays Bank Delaware Regions Bank
Pacific Western Bank Pacific Western Bank Compass Bank Compass Bank
Associated Bank, N.A. Associated Bank, N.A. Bank of China U.S. Bank N.A.
Bank of Hope Towne Bank Franklin Synergy Bank Pacific Western Bank
Compass Bank New York Community Bank Pacific Western Bank Associated Bank, N.A.
SunTrust Bank Cadence Bank, N.A. Wells Fargo Bank, N.A. New York Community Bank
Bank of North Carolina Florida Community Bank, N.A. New York Community Bank Bank of India
Grandpoint Bank American Express Centurion Bank Grandpoint Bank Bank of Hope
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 Regions Bank U.S. Bank N.A. State Bank of India
Synchrony Bank Barclays Bank Delaware Associated Bank, N.A. U.S. Bank N.A.
Community Bank Goldman Sachs Bank USA Synchrony Bank Regions Bank
Barclays Bank Delaware Raymond James Bank, N.A. Bank of India Amarillo National Bank
Pinnacle Bank Manufacturers and Traders Trust Company Regions Bank Florida Community Bank, N.A.
Regions Bank Bank of India Extraco Banks, N.A. Extraco Banks, N.A.
PNC Bank, N.A. PNC Bank, N.A. Raymond James Bank, N.A. Park Sterling Bank
Raymond James Bank, N.A. Citibank, N.A. Barclays Bank Delaware New York Community Bank
Associated Bank, N.A. Amarillo National Bank Bank of Hope American Express Centurion Bank
Wells Fargo Bank, N.A. First Mid-Illinois B&T Union Bank and Trust Company Barclays Bank Delaware
Compass Bank SunTrust Bank Wells Fargo Bank, N.A. Wells Fargo Bank, N.A.
Goldman Sachs Bank USA Wells Fargo Bank, N.A. SunTrust Bank PNC Bank, N.A.
First Mid-Illinois B&T Compass Bank Origin Bank American Express Bank, FSB.
American Express Bank, FSB. Bank of China Goldman Sachs Bank USA SunTrust Bank
Towne Bank The Bank of East Asia Ltd. PNC Bank, N.A. Compass Bank
New York Community Bank New York Community Bank The Bank of East Asia Ltd. Goldman Sachs Bank USA
The Bank of East Asia Ltd. Associated Bank, N.A. Pinnacle Bank Bank of Hope
Origin Bank Pacific Western Bank Citibank, N.A. Associated Bank, N.A.
Franklin Synergy Bank Franklin Synergy Bank Compass Bank Pacific Western Bank
Pacific Western Bank Pinnacle Bank First Mid-Illinois B&T Manufacturers and Traders Trust Company
Bank of India Origin Bank Pacific Western Bank The Bank of East Asia Ltd.
Bank of Hope Bank of Hope New York Community Bank Pinnacle Bank
U.S. Bank N.A. American Express Centurion Bank American Express Bank, FSB. Citibank, 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. Citibank, N.A. Bank of China Compass Bank
American Express Centurion Bank SunTrust Bank Barclays Bank Delaware Franklin Synergy Bank
American Express Bank, FSB. PNC Bank, N.A. Origin Bank Barclays Bank Delaware
SunTrust Bank Barclays Bank Delaware Cadence Bank, N.A. Florida Community Bank, N.A.
U.S. Bank N.A. Union Bank and Trust Company Compass Bank Community Bank
Citibank, N.A. Florida Community Bank, N.A. The Bank of East Asia Ltd. Bank of Hope
Pacific Western Bank Bank of North Carolina Union Bank and Trust Company Bank of North Carolina
Bank of India Extraco Banks, N.A. Franklin Synergy Bank Park Sterling Bank
Synchrony Bank New York Community Bank Pinnacle Bank Amarillo National Bank
Bank of Hope State Bank of India Florida Community Bank, N.A. First Mid-Illinois B&T
Union Bank and Trust Company Raymond James Bank, N.A. Bank of Hope New York Community Bank
State Bank of India American Express Bank, FSB. First Mid-Illinois B&T Origin Bank
The Bank of East Asia Ltd. American Express Centurion Bank Towne Bank Cadence Bank, N.A.
Wells Fargo Bank, N.A. Synchrony Bank Bank of North Carolina Union Bank and Trust Company
Franklin Synergy Bank Origin Bank New York Community Bank Pinnacle Bank
Compass Bank Compass Bank Park Sterling Bank Towne Bank
Bank of China Cadence Bank, N.A. Extraco Banks, N.A. Extraco Banks, N.A.
Origin Bank First Mid-Illinois B&T Amarillo National Bank Citibank, N.A.
PNC Bank, N.A. Franklin Synergy Bank Citibank, N.A. Grandpoint Bank
Associated Bank, N.A. Pacific Western Bank Grandpoint Bank
New York Community Bank Associated Bank, N.A.
Cadence Bank, N.A. Wells Fargo Bank, N.A.
Extraco Banks, N.A. Bank of Hope
Regions Bank U.S. 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)