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
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 June 12, 2017

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