Liberty Partners

Insured Deposits

As an investor there may be times when you carry a cash balance in your account. This happens when you receive a dividend or interest payment or when you sell a security and do not immediatelyuse the proceeds to purchase a different security.

You may also deposit cash in your account for future purchases. If you have an Investment Access® Account and use that account to help manage your day-to-day cash needs and pay bills, you likely have funds set aside to cover these payments. Or, you may have allocated funds to cash as part of your investment strategy.

In the past, you could sweep the cash balance in your account only into a money market fund or into the Credit Interest Program to earn dividends or interest. However, some clients seek additional protection for their cash and may be cautious about money market funds.

Now you can deposit cash in interest- bearing Federal Deposit Insurance Corporation (FDIC) bank accounts through RBC Insured Deposits.

How the program works

If you use RBC Insured Deposits, RBC Capital Markets, LLC, will deposit your funds into one or more FDIC-insured banks participating in the program.

If your deposit is greater than the coverage available at one bank, the excess deposit amounts will be directed into accounts at other participating banks. In this way, RBC Insured Deposits places balances into multiple banks to provide FDIC coverage in excess of the per bank limit. This program is designed to offer $5 million

in aggregate FDIC coverage. Please note that if your deposits exceed this amount, the amount in excess of $5 million
may not be covered by FDIC deposit insurance.

What RBC Insured Deposits offers

Peace of mind — This program is ideal for clients who wish to earn interest on their cash but who place a high priority on the safety of principal. Individual clients, sole proprietors, government entities and qualifying nonprofits can participate. Please note: advisory retirement clients, and pooled self- trusteed qualified plans are prohibited from participating in the program.

Confidence — RBC Insured Deposits sweeps cash into interest-bearing accounts at FDIC-insured banks that RBC has thoroughly reviewed; only creditworthy banks participate in the program.

Choice — You can maintain deposits
in multiple banks with up to $5 million aggregate FDIC insurance coverage, and you have the ability to exclude certain banks from receiving your deposits.

Convenience — You don’t have to manage relationships with multiple banks. We do it for you. And we report your cash balance by bank, the interest you earned and the Annual Percentage Yield Earned (APYE) on your statement.

FDIC insurance

Deposits placed with banks that are members of the FDIC are covered by FDIC insurance for up to $250,000 per depositor, per insured bank, for each account ownership category (single account, joint account, etc.) should the bank fail. Coverage limits may vary by the specific account registration. To learn more about FDIC insurance coverage, please visit Bank deposits are not covered by SIPC.

RBC Capital Markets, LLC, automatically monitors the bank deposits and certificates of deposits (CDs) held at RBC. If you hold a CD
at RBC Capital Markets, LLC, that was issued by a bank that participates in RBC Bank Insured Deposits, the system will not direct funds to that bank. Bank deposits and CDs you hold at other firms are not monitored by RBC Capital Markets, LLC. If you hold deposits directly at a bank that also participates in RBC Insured Deposits, you may exceed FDIC coverage limits available through that bank — unless you instruct RBC Capital Markets, LLC, not to deposit your funds into that particular bank.


This program makes it easy to enjoy the following advantages:

  • Sweep up to $5 million into FDIC- insured interest-bearing accounts at different banks — all managed for you by RBC.
  • Access to a range of pre-qualified banks to custody your cash.
  • Earn competitive interest rates.
  • Maintain immediate cash liquidity for trading opportunities or other needs.


Simplify your life with RBC Insured Deposits

Whether you initially choose to sweep your cash into RBC Insured Deposits or another option, you can change
your cash sweep option at any time. In addition, if you have an Investment Access® Account with RBC Insured Deposits, you have the same convenient cash management tools available, such as a Visa® Platinum Debit Card, unlimited check-writing, electronic funds transfer, online bill pay and more.

Call your financial advisor today to enroll in RBC Bank Insured Deposits.


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