Sweep Program Resources
The Bank Deposit Sweep Program and Insured Cash Account Program are core account investment vehicles used to hold your cash balance while awaiting reinvestment. The cash balance in your Brokerage Account(s) will be automatically deposited or “swept” into an interest-bearing FDIC-insured program deposit account. Greater safety and competitive yield on the cash in your investment account – that’s why Securities America created the Bank Deposit Sweep Program and Insured Cash Account Program, which provide up to $2.5 million maximum cumulative FDIC coverage and a competitive yield with deposits held at a network of multiple banks.
For more information, contact your Financial Professional or visit the FDIC website.