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 $1,000,0000.58%
$1,000,000 or Greater0.75%
Non-qualified Accounts (VIBD)Fund in Deposit Account less than $1,000,0000.58%
$1,000,000 or Greater0.75%

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 BankCapital One Bank (USA), N.A.
5Century Bank and TrustThe Bank of East Asia Ltd.Century Bank and TrustCompass Bank
6EagleBankCapital One Bank (USA), N.A.Citibank, N.A.The Bank of East Asia Ltd.
7The Bank of East Asia Ltd.Century Bank and TrustWells Fargo Bank, NAEnterprise Bank & Trust
8Capital One Bank (USA), N.A.EagleBankUnion Bank and TrustCitibank, N.A.
9Enterprise Bank & TrustSynovus BankCapital One Bank (USA), N.A.American Express Centurion Bank
10PNC BankPNC BankCadence Bank, N.A.Cadence Bank, N.A.
11Simmons BankTowne BankSynovus BankCentury Bank and Trust
12Union Bank and TrustWells Fargo Bank, NAEagleBankEagleBank
13Towne BankUnion Bank and TrustEnterprise Bank & TrustWells Fargo Bank, NA
14Wells Fargo Bank, NASimmons BankMorgan Stanley Private Bank NASimmons Bank
15Citibank, N.A.Citibank, N.A.Simmons BankTowne Bank
16Synovus BankEnterprise Bank & TrustThe Bank of East Asia Ltd.Union Bank and Trust
17Cadence Bank, N.A.Cadence Bank, N.A.Towne BankSynovus 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
5Synovus BankCapital One Bank (USA), N.A.Century Bank and TrustWells Fargo Bank, NA
6Capital One Bank (USA), N.A.EagleBankThe Bank of East Asia Ltd.Capital One Bank (USA), N.A.
7Union Bank and TrustCitibank, N.A.PNC BankCadence Bank, N.A.
8Towne BankEnterprise Bank & TrustCadence Bank, N.A.EagleBank
9Wells Fargo Bank, NASynovus BankCitibank, N.A.Synovus Bank
10The Bank of East Asia Ltd.Simmons BankEagleBankEnterprise Bank & Trust
11PNC BankPNC BankSynovus BankCitibank, N.A.
12Simmons BankThe Bank of East Asia Ltd.Enterprise Bank & TrustTowne Bank
13EagleBankTowne BankMorgan Stanley Private Bank NAUnion Bank and Trust
14Citibank, N.AUnion Bank and TrustSimmons BankCompass Bank
15Enterprise Bank & TrustWells Fargo Bank, NATowne BankThe Bank of East Asia Ltd.
16Century Bank and TrustCompass BankUnion Bank and TrustSimmons Bank
17Cadence 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.