Home
Forms Library
Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document

Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document 2025

Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document Preview on Page 1

See details

4.7 out of 5

63 votes

The Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document outlines changes to the investment options available in brokerage accounts, specifically transitioning from certain money market funds to interest-bearing FDIC-insured deposit accounts at designated banks. Effective January 15, 2010, cash balances in brokerage accounts will be automatically swept into these deposit accounts, with details on insurance coverage limits and access to funds provided. The document also explains eligibility for the program, interest rates, and the relationship between Securities America and participating banks.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to quickly redact Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is the greatest editor for updating your forms online. Adhere to this straightforward instruction to edit Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document in PDF format online for free:

Sign up and log in. Create a free account, set a secure password, and proceed with email verification to start managing your templates.
Upload a document. Click on New Document and select the file importing option: add Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document from your device, the cloud, or a protected URL.
Make changes to the template. Utilize the top and left-side panel tools to redact Securities America Bank Deposit Sweep Program (BDSPSM) Disclosure Document. Insert and customize text, pictures, and fillable areas, whiteout unnecessary details, highlight the significant ones, and provide comments on your updates.
Get your paperwork completed. Send the sample to other individuals via email, create a link for quicker document sharing, export the template to the cloud, or save it on your device in the current version or with Audit Trail added.

Explore all the advantages of our editor right now!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the downside of a sweep account?

Considerations and disadvantages of using a sweep account If cash holdings are small, maintaining a sweep account may not be cost-effective. If there are minimal excess funds, there may not be much of a benefit from the interest earned from a sweep account.

What is the FDIC sweep disclosure?

This FDIC insurance disclosure can be used for sweep accounts. The bank must disclose in writing to sweep account customers whether their swept funds are deposits within the meaning of the Federal Deposit Insurance Act (12 U.S.C. 1813(l)).

What is the standard bank deposit sweep program?

The Standard Bank Deposit Sweep consists of interest-bearing deposit accounts at two or more Program Banks affiliated with Wells Fargo Advisors (Affiliated Banks). The Standard Bank Deposit Sweep will provide up to a minimum of $500,000 in FDIC insurance ($1 million for joint accounts with two or more owners).

What is the sweep bank deposit program?

What Is a Sweep Account? A sweep account is a bank or brokerage account that automatically transfers amounts that exceed a certain level into a higher interest-earning investment option at the close of each business day. Commonly, the excess cash is swept into a money market fund.

What is FDIC insured deposit sweep fidelity?

If the standard maximum deposit insurance amount increases and you have Program Deposits at your Accounts Primary Core Bank in excess of the new Maximum Deposit Limit, then Fidelity will sweep these funds into the next available Program Bank on your Program Bank List (as more fully described below) until the total