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
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
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 December 12, 2017

FL AR & TX GA AL
Raymond James Bank, N.A. Raymond James Bank, N.A. Regions Bank 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. Goldman Sachs Bank USA State Bank of India
American Express Bank, FSB. Synchrony Bank PNC Bank, N.A. Synchrony Bank
PNC Bank, N.A. PNC Bank, N.A. Wells Fargo Bank, N.A. American Express Centurion Bank
Citibank, N.A. Wells Fargo Bank, N.A. Citibank, N.A. West Bank
SunTrust Bank Pacific Western Bank Community Bank U.S. Bank N.A.
Wells Fargo Bank, N.A. SunTrust Bank SunTrust Bank Bank of China
West Bank Bank of India Raymond James Bank, N.A. Citibank, N.A.
Bank of India Citibank, N.A. Bank of China Origin Bank
Bank of China Barclays Bank Delaware Amarillo National Bank PNC Bank, N.A.
Pacific Western Bank Bank of China State Bank of India SunTrust Bank
Origin Bank West Bank U.S. Bank N.A. Raymond James Bank, N.A.
Goldman Sachs Bank USA Bank of Hope Barclays Bank Delaware Regions Bank
Barclays Bank Delaware Compass Bank Compass Bank Franklin Synergy Bank
Regions Bank Pinnacle Bank Franklin Synergy Bank Towne Bank
The Bank of East Asia Ltd. Regions Bank The Bank of East Asia Ltd. Compass Bank
New York Community Bank Franklin Synergy Bank Pacific Western Bank Barclays Bank Delaware
Towne Bank Origin Bank South State Bank Cadence Bank, N.A.
First Mid-Illinois B&T Cadence Bank, N.A. Origin Bank Pinnacle Bank
Pinnacle Bank The Bank of East Asia Ltd. First Mid-Illinois B&T The Bank of East Asia Ltd.
Cadence Bank, N.A. Florida Community Bank, N.A. Cadence Bank, N.A. Pacific Western Bank
Bank of Hope New York Community Bank New York Community Bank Florida Community Bank, N.A.
Compass Bank First Mid-Illinois B&T Synchrony Bank Bank of Hope
Associated Bank, N.A. Associated Bank, N.A. Associated Bank, N.A. American Express Bank, FSB.
LA & MS KY & TN DE, MD, NC, SC, VA, & WV OH & PA
American Express Centurion Bank Wells Fargo Bank, N.A. Raymond James Bank, N.A. Citibank, N.A.
U.S. Bank N.A. Synchrony Bank American Express Centurion Bank Goldman Sachs Bank USA
Wells Fargo Bank, N.A. PNC Bank, N.A. Synchrony Bank U.S. Bank N.A.
Bank of China Goldman Sachs Bank USA PNC Bank, N.A. Raymond James Bank, N.A.
Synchrony Bank U.S. Bank N.A. Goldman Sachs Bank USA Synchrony Bank
Raymond James Bank, N.A. SunTrust Bank SunTrust Bank South State Bank
Citibank, N.A. American Express Bank, FSB. Regions Bank American Express Bank, FSB.
PNC Bank, N.A. Citibank, N.A. Wells Fargo Bank, N.A. SunTrust Bank
SunTrust Bank Raymond James Bank, N.A. Bank of China Wells Fargo Bank, N.A.
Union Bank and Trust Company Pacific Western Bank Citibank, N.A. PNC Bank, N.A.
Compass Bank West Bank Barclays Bank Delaware State Bank of India
Barclays Bank Delaware Bank of China Franklin Synergy Bank Bank of China
Bank of Hope Compass Bank Pinnacle Bank Cadence Bank, N.A.
Origin Bank Origin Bank U.S. Bank N.A. Barclays Bank Delaware
Community Bank Barclays Bank Delaware The Bank of East Asia Ltd. Origin Bank
First Mid-Illinois B&T Franklin Synergy Bank State Bank of India The Bank of East Asia Ltd.
Franklin Synergy Bank The Bank of East Asia Ltd. Community Bank Bank of Hope
Pacific Western Bank Pinnacle Bank Compass Bank Compass Bank
Towne Bank Cadence Bank, N.A. American Express Bank, FSB. Franklin Synergy Bank
Cadence Bank, N.A. Regions Bank First Mid-Illinois B&T Pacific Western Bank
New York Community Bank Florida Community Bank, N.A. Origin Bank Pinnacle Bank
Regions Bank New York Community Bank New York Community Bank Regions Bank
The Bank of East Asia Ltd. The Bryn Mawr Trust Company Pacific Western Bank First Mid-Illinois B&T
American Express Bank, FSB. Associated Bank, N.A. Union Bank and Trust Company New York Community Bank
Associated Bank, N.A. American Express Centurion Bank Associated Bank, N.A. Associated Bank, 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 Centurion Bank Raymond James Bank, N.A. Synchrony Bank American Express Centurion Bank
Wells Fargo Bank, N.A. Bank of China PNC Bank, N.A. Wells Fargo Bank, N.A.
PNC Bank, N.A. SunTrust Bank U.S. Bank N.A. PNC Bank, N.A.
Citibank, N.A. Barclays Bank Delaware American Express Centurion Bank State Bank of India
Barclays Bank Delaware West Bank South State Bank Synchrony Bank
Franklin Synergy Bank U.S. Bank N.A. The Bryn Mawr Trust Company SunTrust Bank
West Bank Community Bank Citibank, N.A. Community Bank
Synchrony Bank Wells Fargo Bank, N.A. Bank of China Bank of India
Raymond James Bank, N.A. Synchrony Bank Raymond James Bank, N.A. Citibank, N.A.
Goldman Sachs Bank USA First Mid-Illinois B&T Goldman Sachs Bank USA Amarillo National Bank
The Bryn Mawr Trust Company Compass Bank SunTrust Bank U.S. Bank N.A.
Bank of China Bank of Hope Origin Bank Bank of China
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
Bank of India The Bank of East Asia Ltd. Regions Bank Origin Bank
Regions Bank Origin Bank Barclays Bank Delaware Compass Bank
Towne Bank Franklin Synergy Bank Amarillo National Bank The Bank of East Asia Ltd.
Pacific Western Bank Regions Bank Towne Bank Pacific Western Bank
Bank of Hope Pacific Western Bank Franklin Synergy Bank West Bank
Compass Bank Towne Bank Pacific Western Bank New York Community Bank
SunTrust Bank New York Community Bank The Bank of East Asia Ltd. Goldman Sachs Bank USA
Pinnacle Bank Cadence Bank, N.A. New York Community Bank Bank of Hope
New York Community Bank Florida Community Bank, N.A. State Bank of India Regions Bank
American Express Bank, FSB. Bank of India Associated Bank, N.A. 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 Bank, FSB. American Express Centurion Bank Raymond James Bank, N.A.
SunTrust Bank Synchrony Bank Bank of China Wells Fargo Bank, N.A.
Bank of China Wells Fargo Bank, N.A. West Bank Goldman Sachs Bank USA
Synchrony Bank Barclays Bank Delaware U.S. Bank N.A. State Bank of India
Community Bank Goldman Sachs Bank USA Citibank, N.A. American Express Centurion Bank
Barclays Bank Delaware Manufacturers and Traders Trust Company Synchrony Bank Citibank, N.A.
Pinnacle Bank West Bank Bank of India Amarillo National Bank
Regions Bank Franklin Synergy Bank Regions Bank Extraco Banks, N.A.
PNC Bank, N.A. Bank of India Wells Fargo Bank, N.A. Bank of China
Raymond James Bank, N.A. PNC Bank, N.A. Raymond James Bank, N.A. New York Community Bank
U.S. Bank N.A. Raymond James Bank, N.A. Barclays Bank Delaware Community Bank
Wells Fargo Bank, N.A. SunTrust Bank Bank of Hope Barclays Bank Delaware
Compass Bank U.S. Bank N.A. Union Bank and Trust Company U.S. Bank N.A.
Goldman Sachs Bank USA Citibank, N.A. Extraco Banks, 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 South State Bank
New York Community Bank Pacific Western Bank PNC Bank, N.A. Synchrony Bank
The Bank of East Asia Ltd. Compass Bank The Bank of East Asia Ltd. Bank of Hope
Origin Bank Pinnacle Bank Pinnacle Bank Regions Bank
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 First Mid-Illinois B&T Pacific Western Bank The Bank of East Asia Ltd.
Bank of Hope Regions Bank New York Community Bank Pinnacle Bank
Associated Bank, N.A. Cadence Bank, N.A. 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.
PNC Bank, N.A. American Express Centurion Bank Bank of China Compass Bank
Wells Fargo Bank, N.A. SunTrust Bank Barclays Bank Delaware Franklin Synergy Bank
SunTrust Bank Citibank, N.A. Origin Bank Community Bank
West Bank Raymond James Bank, N.A. Cadence Bank, N.A. Barclays Bank Delaware
Community Bank Wells Fargo Bank, N.A. Bank of Hope Origin Bank
U.S. Bank N.A. PNC Bank, N.A. Compass Bank Florida Community Bank, N.A.
Citibank, N.A. Barclays Bank Delaware The Bank of East Asia Ltd. Pinnacle Bank
Pacific Western Bank Union Bank and Trust Company Union Bank and Trust Company South State Bank
Bank of China Extraco Banks, N.A. Franklin Synergy Bank Amarillo National Bank
Origin Bank New York Community Bank Pinnacle Bank First Mid-Illinois B&T
Raymond James Bank, N.A. U.S. Bank N.A. Florida Community Bank, N.A. West Bank
Bank of Hope Compass Bank Towne Bank New York Community Bank
State Bank of India Synchrony Bank South State Bank Bank of Hope
Bank of India Origin Bank New York Community Bank Cadence Bank, N.A.
Union Bank and Trust Company State Bank of India Amarillo National Bank Union Bank and Trust Company
Franklin Synergy Bank Cadence Bank, N.A. Extraco Banks, N.A. Towne Bank
Compass Bank First Mid-Illinois B&T First Mid-Illinois B&T Extraco Banks, N.A.
The Bank of East Asia Ltd. Franklin Synergy Bank Citibank, N.A. Citibank, N.A.
Synchrony Bank Pacific Western Bank
American Express Centurion Bank Towne Bank
New York Community Bank West Bank
Cadence Bank, N.A. Bank of Hope
Regions Bank Pinnacle Bank
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)