Cash Sweeps

Cash sweep options from Raymond James

Cash is an important part of every financial plan. Consider the following options for your cash to keep it accessible for near-term needs while you continue working toward your long-term financial goals.

Here’s how the Raymond James Bank Deposit Program works

With the Raymond James Bank Deposit Program (RJBDP), uninvested cash in your Raymond James account is deposited into interest-bearing accounts at multiple banks. Raymond James will deposit up to $245,000 ($490,000 for joint accounts of two or more) in each bank on a predetermined bank priority list, which can be found here

Clients with accounts that are eligible for RJBDP can receive combined FDIC insurance of up to $3 million ($6 million for joint accounts). Combined FDIC insurance coverage is subject to program banks’ available capacity with Raymond James. 

Additional options

At Raymond James, we provide you with multiple options to keep your cash safe and working hard for you.

An additional feature available for your cash is the Client Interest Program (CIP), a short-term alternative for cash awaiting investment. We also offer a combination program, RJBDP with CIP, whereby cash balances that are not swept to RJBDP will be directed to CIP.

CIP balances are eligible for Securities Investor Protection Corporation (SIPC) coverage up to $500,000 (including $250,000 for claims of cash) and excess SIPC coverage (aggregate firm limit of $750 million, including a sub-limit of $1.9 million per customer for cash above basic SIPC).

Learn more about the sweep account options  outlined below. For the selection that’s best for you, please talk to your financial advisor.

Diversification of investments does not guarantee a profit nor protect against loss.

The banks we sweep your funds to are based on a priority list, which is available at All deposits and withdrawals at the banks will be made by Raymond James on your behalf. If you maintain funds separately with banks in our program, you should monitor your total deposits at the applicable bank(s) to ensure they do not exceed FDIC insurance limits of $250,000 ($500,000 for joint accounts). Your funds will earn the same interest rate at all of the banks, based on your total balances with Raymond James. Interest rate tiers and current rates are available online at and through your financial advisor. 

ERISA accounts and Managed IRAs are not eligible for the multi-bank sweep program. These accounts can elect RJBDP – Raymond James Bank Only. RJBDP – Raymond James Bank Only offers FDIC coverage for up to $250,000.

Funds held at Raymond James Bank, TriState Capital Bank and participating third party banks in the Bank Deposit Program are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. Additional information can be found at or by calling 877.ASK.FDIC (877.275.3342). 

Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank and TriState Capital Bank. Unless otherwise specified, products purchased from or held at Raymond James & Associates or Raymond James Financial Services are not insured by the FDIC, are not deposits or other obligations of Raymond James Bank or TriState Capital Bank, are not guaranteed by Raymond James Bank or TriState Capital Bank, and are subject to investment risks, including possible loss of the principal invested.

The Client Interest Program (CIP) is a cash feature. Because CIP is an option for some accounts to earn interest on funds awaiting investment we are including CIP in the Cash Sweep Program. Through CIP, a significant portion of cash is set aside for the client and held in certain high-quality U.S. Treasury securities or in qualifying trust and/or cash accounts with major U.S. banks. The remaining balance is used in the company’s business operations.  We refer to both RJBDP (including RJBDP-RJ Bank Only) and CIP as “sweep options” in our agreements with you.

Raymond James & Associates is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request or at or by calling (202) 371-8300. Raymond James has purchased excess-SIPC coverage through various syndicates of Lloyd's, a London-based firm. Excess SIPC is fully protected by the Lloyd's trust funds and Lloyd's Central Fund. The additional protection currently provided has an aggregate firm limit of $750 million, including a sub-limit of $1.9 million per customer for cash above basic SIPC for the wrongful abstraction of customer funds. Account protection applies when a SIPC-member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against market fluctuations.