Insured Sweep Program: Receive deposits and. Additionally, your bank customers can take advantage of this option. Sweep Program - Participating Bank Information. Deposit Insurance Corporation (FDIC) protection. FDIC Sweep Insurance Program – Robinhood Help Center. The FDIC- Insured Sweep Program provides Federal Deposit Insurance Corporation (FDIC) coverage and allows you to earn interest on uninvested cash balance at no cost to you. Your uninvested cash balance may be swept into one or more participating bank(s) under the FDIC- Insured Sweep Program. The applicable FDIC insurance limit depends on a number of factors. You should consult the . Any interest paid to you will be posted to your Robinhood brokerage account monthly. Your uninvested cash balance is only eligible for FDIC coverage once it is deposited in an account at a participating bank. Assets covered under FDIC insurance are exempted from SIPC coverage. As with all investments, you should consider carefully if this FDIC- Insured Sweep Program meets your investment objectives. Robinhood Financial provides no investment, legal, or tax advice. Cash Sweep Program; FDIC.PLUS; Security Exclusions & Filters. BANK DEPOSIT SWEEP PROGRAM (BDSP. A sweep account is an account set up at a bank or other. SIPCSecurities and funds not swept to a participating bank are held in your brokerage account and are covered by the Securities Investor Protection Corporation (SIPC). As a member of SIPC, funds are available to meet customer claims up to a current ceiling of $5. SIPC coverage does not cover fluctuations or losses in the market value of your investments, but would cover you if Robinhood should go out of business. For additional information regarding SIPC coverage, including a brochure, you should contact SIPC at (2. BANK DEPOSIT SWEEP PROGRAM (BDSP. The Program Bank List also indicates your Excess Deposits Bank. ESDA bank sweep program. ESDA is a cash sweep program providing FDIC insurance up to $2,500,000 (joint accounts) and $1,250,000 (other. APEX FDIC-INSURED SWEEP PROGRAM TERMS AND CONDITIONS You may elect to have dormant cash in your brokerage account at Apex Clearing. You can only access your excess cash balance directly through your.
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