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Bank Deposit Sweep Program

UnionBanc Investment Services provides customers the opportunity to earn income on uninvested cash in their brokerage account through the Bank Deposit Sweep Program.

The Deposit Sweep Option is the default Core Sweep Option for most types of UnionBanc Investment Services accounts, based on the type and nature of the account ownership. 

Benefits of a Bank Deposit Sweep Account

When the option you choose for your Core Sweep is the Bank Deposit Sweep Program, cash balances (or free credit balances) are automatically "swept" into an interest-bearing deposit account at Union Bank, N.A.###DISCLAIMER:2_0 Bank Deposit Sweep Program###,###DISCLAIMER:2_0 Bank Products### with the following benefits:

  • Free credit balances in your brokerage account, including interest and dividends, will begin earning interest once swept into the Bank Deposit Sweep Program###DISCLAIMER:2_0 Bank Deposit Sweep Program### 
  • With the Bank Deposit Sweep Program, funds are covered by FDIC insurance up to the permissible limits
  • Once uninvested funds are swept back into your UnionBanc Investment Services brokerage account, then stocks, bonds,###DISCLAIMER:2_0 Bonds### mutual funds, and other securities can be purchased with these funds
In order to be eligible for the program, each beneficial owner of the brokerage account must be a natural person. Entities organized to make a profit, such as corporations, are not eligible.

Program Disclosure

Bank Deposit Sweep Account Rates

Account Balance Interest Rate % Annual Percentage###DISCLAIMER:2_0 UBIS Bank Yield### Yield%
$0 - $49,999 0.01% 0.01%
$50,000 - $99,999 0.02% 0.02%
$100,000 - $249,999 0.03% 0.03%
$250,000 - $499,999 0.05% 0.05%
$500,000 - $1 million 0.06% 0.06%
$1 million + 0.08% 0.08%

The Bank Deposit Sweep Program###DISCLAIMER:2_0 Bank Deposit Sweep Program###,###DISCLAIMER:2_0 Bank Products### allows you to keep your free cash working all the time. To learn more about the features available to you when you add, choose, or select the Bank Deposit Sweep Program to your UnionBanc Investment Services Brokerage Account, contact your Financial Advisor directly or call Client Services at 1-877-634-3890.
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