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
American Express National Bank (American Express Centurion Bank merged with American Express FSB) Bank merger April 2, 2018
Banc of California, N.A. Bank added March 1, 2018
Associated Bank Bank removed March 1, 2018
South State Bank acquired Park Sterling Bank Bank merger November 30, 2017
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

* 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 May 15, 2018

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