Voya Financial Advisors Insured Bank Deposit Account

Voya Financial Advisors Insured Bank Deposit Account

Features, Rates, and Disclosures

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.

Rate Schedule

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.
Account Amount Rate
Qualified Account
(Ticker: VIBR)
Less than $24,999.99 0.011%
$25,000.00 – $49,999.99 0.011%
$50,000.00 – $99,999.99 0.011%
$100,000.00 – $149,999.99

0.011%

$150,000.00 – $249,999.99 0.011%
$250,000.00 – $299,999.99 0.011%
$300,000.00 – $499,999.99 0.011%
$500,000.00 – $999,999.99 0.011%
$1,000,000.00 – 4,999,999.99 0.011%
$5,000,000 or Greater 0.011%
Non-Qualified Account
(Ticker VIBD)
$24,999.99 or Less 0.011%
$25,000.00 – $49,999.99 0.011%
$50,000.00 – $99,999.99 0.011%
$100,000.00 – $149,999.99 0.011%
$150,000.00 – $249,999.99 0.011%
$250,000.00 – $299,999.99 0.011%
$300,000.00 – $499,999.99 0.011%
$500,000.00 – $999,999.99 0.011%
$1,000,000.00 – 4,999,999.99 0.011%
$5,000,000 or Greater 0.011%

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.

Priority Alabama, Arkansas, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Oklahoma, Tennessee Illinois, Indiana, Michigan, Ohio, Wisconsin Delaware, Maryland, New Jersey, Pennsylvania, District of Columbia Alaska, Colorado, Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington, Wyoming
1 Morgan Stanley Private Bank, NA American Express National Bank Citibank, N.A. Morgan Stanley Private Bank, NA
2 The Bank of East Asia Ltd. Bremer Bank Bremer Bank The Bank of East Asia Ltd.
3 Bremer Bank Progress Bank and Trust PNC Bank Progress Bank and Trust
4 Flushing Bank The Bank of East Asia Ltd. Progress Bank and Trust Flushing Bank
5 Progress Bank and Trust Morgan Stanley Private Bank, NA The Bank of East Asia Ltd. Bremer Bank
6 Eastern Bank Flushing Bank Flushing Bank Sandy Spring Bank
7

Sandy Spring Bank

Simmons Bank American Express National Bank American Express National Bank
8 PNC Bank Sandy Spring Bank Eastern Bank Eastern Bank
9 EagleBank Capital One Bank (USA), N.A. Sandy Spring Bank PNC Bank
10 Capital One Bank (USA), N.A. Eastern Bank Union Bank and Trust Enterprise Bank & Trust
11 Enterprise Bank & Trust EagleBank Capital One Bank (USA), N.A. Citibank, N.A.
12 Simmons Bank Citibank, N.A. EagleBank Capital One Bank (USA), N.A.
13 Union Bank and Trust Enterprise Bank & Trust Enterprise Bank & Trust Simmons Bank
14 American Express National Bank Union Bank and Trust Morgan Stanley Private Bank, NA EagleBank
15 Citibank, N.A. PNC Bank Simmons Bank Union Bank and Trust

Excess Bank List

1 Capital One Bank (USA), N.A. Capital One Bank (USA), N.A. Capital One Bank (USA), N.A. Capital One Bank (USA), N.A.
2 Citibank, N.A. Citibank, N.A. Citibank, N.A. Citibank, N.A.
Priority Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, Vermont Florida, Georgia, North Carolina, South Carolina, Virginia, West Virginia Arizona, Nevada, New Mexico, Texas, Utah California, Hawaii, U.S. territories
1 Morgan Stanley Private Bank, NA Morgan Stanley Private Bank, NA American Express National Bank American Express National Bank
2 American Express National Bank American Express National Bank Bremer Bank Bremer Bank
3 Bremer Bank Bremer Bank The Bank of East Asia Ltd. The Bank of East Asia Ltd.
4 Progress Bank and Trust The Bank of East Asia Ltd. Capital One Bank (USA), N.A. Sandy Spring Bank
5 The Bank of East Asia Ltd. Eastern Bank PNC Bank Flushing Bank
6 PNC Bank Flushing Bank Eastern Bank Progress Bank and Trust
7 Flushing Bank Progress Bank and Trust Flushing Bank Capital One Bank (USA), N.A.
8 Union Bank and Trust Sandy Spring Bank Sandy Spring Bank Simmons Bank
9 Sandy Spring Bank Citibank, N.A. Progress Bank and Trust EagleBank
10 Capital One Bank (USA), N.A. Enterprise Bank & Trust Citibank, N.A. Enterprise Bank & Trust
11 Simmons Bank Capital One Bank (USA), N.A. EagleBank Citibank, N.A.
12 EagleBank Simmons Bank Enterprise Bank & Trust Morgan Stanley Private Bank, NA
13 Citibank, N.A. EagleBank Morgan Stanley Private Bank, NA Union Bank and Trust
14 Enterprise Bank & Trust Union Bank and Trust Simmons Bank PNC Bank
15 Eastern Bank PNC Bank Union Bank and Trust Eastern Bank

Excess Bank List

1 Capital One Bank (USA), N.A. Capital One Bank (USA), N.A. Capital One Bank (USA), N.A. Capital One Bank (USA), N.A.
2 Citibank, N.A. Citibank, N.A. Citibank, N.A. Citibank, N.A.
Priority Business All
1 Bremer Bank
2 The Bank of East Asia Ltd.
3 Progress Bank and Trust
4 Flushing Bank
5 Sandy Spring Bank
6 Capital One Bank (USA), N.A.
7 EagleBank
8 Enterprise Bank & Trust
9 Citibank, N.A.
10 Eastern Bank
11 Union Band and Trust
12 PNC Bank
13 Simmons Bank
Excess Bank List
1 Citibank, N.A.

Please view the Voya Financial Advisors Insured Bank Deposit Account Disclosure Booklet (PDF) for all accounts except the Rep as Manager account program.