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), and for all custodial retirement accounts, 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, and as always, funds are immediately available for withdrawal or reinvestment.

Bank priority lists

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

Bank Change made Effective Date
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 February 8, 2017

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

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)