Non-deposit investment products: Are NOT deposits or other obligations of, or guaranteed by, the lifetouch sports online coupon code Bank or any Bank affiliate Are NOT insured by the fdic or by any other federal government agency Are subject to investment risks, including possible loss of the principal amount invested.
Most broker-dealers keep a portion of the interest paid by the bank(s) as a fee for providing bank sweep services.
What is a bank sweep program?
Your brokerage account opening materials should explain how your broker-dealers bank sweep program works and your broker-dealer must give you 30 days written notice of any changes to the bank sweep program. .It is neither a legal interpretation nor a statement of SEC policy. .Interest rates may change as often as daily without prior notice.The terms and conditions of bank sweep programs vary. .Wells Fargo Bank Northwest,.A.fdic insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. .The Federal Deposit Insurance Corporation (fdic) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. .
#disclaimer:2_0 ubis 4 - ubis Only# Brokerage and investment advisory services are available through UnionBanc Investment Services LLC, a registered broker-dealer, investment adviser, member.Eligibility is based on the type of investment account and nature of account ownership.Printer Friendly, cash Sweep Features, wells Fargo Advisors offers two sweep features for clients to earn income on uninvested cash balances in their account - the Wells Fargo Advisors Bank Deposit Sweep and the Money Market Fund Sweep.Does fdic insurance cover the cash in bank sweep programs?Thus, it is important to know how much of your cash your broker-dealer has swept into each fdic-insured bank participating in your broker-dealers bank sweep program at any given time, because any cash in these accounts that exceeds the 250,000 limit will not be protected.The protections for cash at a bank primarily will derive from banking laws and regulations, including fdic deposit insurance.Your broker-dealers affiliation with the bank.For help with monitoring your fdic coverage in your bank sweep accounts, you may use the fdics Electronic Deposit Insurance Estimator (edie) which is available online. .In the event Union Bank fails, you will be an unsecured creditor of Union Bank in connection with your deposit in a Bank Deposit Sweep account.If the description of the bank sweep program is not clear to you, you may want to consider asking your broker-dealer to explain how its bank sweep program works. .
It keeps your money growing steadily, and it can be transferred back to checking any time you need.