The Voya Financial Advisors Insured Bank Deposit Account, a multi-bank, Federal Deposit Insurance Corporation (FDIC) insured bank deposit program, will serve as the default cash sweep option for brokerage and advisory accounts administered by Pershing, LLC.

The Voya Financial Advisors Insured Bank Deposit Account offers:

  • A cash management solution that helps balance returns, safety, and liquidity
  • $2.5 million in FDIC coverage per customer
  • Convenient sweep feature when assets are not invested in brokerage or advisory investments.
  • Ability to exclude specific banks from the bank priority list applicable to the customer’s account.

Rate schedule

Voya Financial Advisors Insured Bank Deposit Account for Retail Brokerage and Advisory product use
(excludes Rep as Manager account program)
SweepCurrent 7-day Effective Yield
Qualified Accounts (VIBR)Fund in Deposit Account less than $1,000,0000.38%
$1,000,000 or Greater0.53%
Non-qualified Accounts (VIBD)Fund in Deposit Account less than $1,000,0000.38%
$1,000,000 or Greater0.53%

Bank Priority List

Voya Financial Advisors and Pershing, LLC use the following banks to deposit assets in the Voya Financial Advisors Insured Bank Deposit program.

PriorityAlabama, Arkansas, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Oklahoma, TennesseeIllinois, Indiana, Michigan, Ohio, WisconsinDelaware, Maryland, New Jersey, Pennsylvania, District of ColumbiaAlaska, Colorado, Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington, Wyoming
1Morgan Stanley Private Bank NAMorgan Stanley Private Bank NAPNC BankMorgan Stanley Private Bank NA
2American Express Centurion BankAmerican Express Centurion BankAmerican Express Centurion BankPNC Bank
3Bremer Bank NACompass BankBremer Bank NABremer Bank NA
4Compass BankBremer Bank NACompass BankPinnacle Bank
5Century Bank and TrustThe Bank of East Asia Ltd.Century Bank and TrustCapital One Bank (USA), N.A.
6EagleBankPinnacle BankCitibank, N.A.Compass Bank
7The Bank of East Asia Ltd.Capital One Bank (USA), N.A.Wells Fargo Bank, NAThe Bank of East Asia Ltd.
8Pinnacle BankCentury Bank and TrustUnion Bank and TrustEnterprise Bank & Trust
9Capital One Bank (USA), N.A.EagleBankPinnacle BankCitibank, N.A.
10Enterprise Bank & TrustFlorida Community BankCapital One Bank (USA), N.A.American Express Centurion Bank
11PNC BankPNC BankCadence Bank, N.A.Cadence Bank, N.A.
12Simmons BankTowne BankFlorida Community BankCentury Bank and Trust
13Union Bank and TrustWells Fargo Bank, NAEagleBankEagleBank
14Towne BankUnion Bank and TrustEnterprise Bank & TrustWells Fargo Bank, NA
15Wells Fargo Bank, NASimmons BankMorgan Stanley Private Bank NASimmons Bank
16Citibank, N.A.Citibank, N.A.Simmons BankTowne Bank
17Florida Community BankEnterprise Bank & TrustThe Bank of East Asia Ltd.Union Bank and Trust
18Cadence Bank, N.A.Cadence Bank, N.A.Towne BankFlorida Community Bank
     
PriorityExcess Bank ListExcess Bank ListExcess Bank ListExcess Bank List
1Citibank, N.A.Citibank, N.A.Citibank, N.A.Citibank, N.A.
2Capital One Bank (USA), N.A.Capital One Bank (USA), N.A.Capital One Bank (USA), N.A.Capital One Bank (USA), N.A.
3Wells Fargo Bank, NAWells Fargo Bank, NAWells Fargo Bank, NAWells Fargo Bank, NA

 

PriorityConnecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, VermontFlorida, Georgia, North Carolina, South Carolina, Virginia, West VirginiaArizona, Nevada, New Mexico, Texas, UtahCalifornia, Hawaii, US territories
1Morgan Stanley Private Bank NAMorgan Stanley Private Bank NAAmerican Express Centurion BankPNC Bank
2American Express Centurion BankAmerican Express Centurion BankBremer Bank NAAmerican Express Centurion Bank
3Bremer Bank NABremer Bank NACapital One Bank (USA), N.A.Bremer Bank NA
4Compass BankCentury Bank and TrustCompass BankMorgan Stanley Private Bank NA
5Florida Community BankCapital One Bank (USA), N.A.Century Bank and TrustWells Fargo Bank, NA
6Pinnacle BankPinnacle BankThe Bank of East Asia Ltd.Capital One Bank (USA), N.A.
7Capital One Bank (USA), N.A.EagleBankPNC BankPinnacle Bank
8Union Bank and TrustCitibank, N.A.Pinnacle BankCadence Bank, N.A.
9Towne BankEnterprise Bank & TrustCadence Bank, N.A.EagleBank
10Wells Fargo Bank, NAFlorida Community BankCitibank, N.A.Florida Community Bank
11The Bank of East Asia Ltd.Simmons BankEagleBankEnterprise Bank & Trust
12PNC BankPNC BankFlorida Community BankCitibank, N.A.
13Simmons BankThe Bank of East Asia Ltd.Enterprise Bank & TrustTowne Bank
14EagleBankTowne BankMorgan Stanley Private Bank NAUnion Bank and Trust
15Citibank, N.AUnion Bank and TrustSimmons BankCompass Bank
16Enterprise Bank & TrustWells Fargo Bank, NATowne BankThe Bank of East Asia Ltd.
17Century Bank and TrustCompass BankUnion Bank and TrustSimmons Bank
18Cadence Bank, N.A.Cadence Bank, N.A.Wells Fargo Bank, NACentury Bank and Trust
     
PriorityExcess Bank ListExcess Bank ListExcess Bank ListExcess Bank List
1Citibank, N.A.Citibank, N.A.Citibank, N.A.Citibank, N.A.
2Capital One Bank (USA), N.A.Capital One Bank (USA), N.A.Capital One Bank (USA), N.A.Capital One Bank (USA), N.A.
3Wells Fargo Bank, NAWells Fargo Bank, NAWells Fargo Bank, NAWells Fargo Bank, NA

Disclosure Booklet

Please click here to view the Voya Financial Advisors Insured Bank Deposit Account Disclosure Booklet for all accounts except the Rep as Manager account program.