RBC Premium Savings

1. The Annual Percentage Rate (APY) can change without notice.
2. Aggregate deposits up to $180 million per client are eligible for FDIC insurance through deposit accounts at RBC Premium Savings program banks, regardless of insurable capacity of brokerage account. Deposit limits may change and some conditions apply.
3. Timing of 1 p.m. Eastern Time cutoff for same day liquidity—withdrawal requests by 1 p.m. Eastern Time on a business day generally will be processed on such business day.  Prior enrollment required.  RBC Premium Savings is not intended for clients who need to have frequent access to funds and will require a verbal liquidation request to your financial advisor to access the funds.
4. New cash balances of $100,000 or more in client brokerage accounts. New cash is defined as any external deposit from the past 30 calendar days, including proceeds from the sale of cash equivalents, such as money market funds, Treasury bills and Certificate of Deposit (CDs), net of any cash outflows.

Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested. 

In the RBC Premium Savings program (the “Program”) deposits are sent to demand deposit and/or to money market deposit accounts at participating network Federal Deposit Insurance Corporation (“FDIC”)-insured depository institutions (“Network Banks”) by RBC Wealth Management, a division of RBC Capital Markets, LLC, (“we,” “us” or RBC WM”) directly or via RBC Bank (Georgia), N.A., an FDIC-insured affiliate, acting as our agent and sub-custodian. Deposits that are placed through the Program at Network Banks are eligible for FDIC deposit insurance coverage in amounts up to the appliable FDIC insurance limit at each Network Bank. The Program relies on the services of IntraFi Network, LLC for the placement of deposits at  third-party Network Banks. Deposits in the Program are not subject to market risk and potential value loss but are subject to the risk of a Network Bank’s failure. In the event a Network Bank fails, deposits at each Network Bank are eligible for FDIC coverage up to applicable limits.

RBC WM is not an FDIC-insured depository institution. FDIC insurance available with the Program is subject to certain conditions and FDIC insurance only protects against failure of the Network Bank. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at Network Banks are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. The depositor may exclude Network Banks from eligibility to receive its funds. A list of Network Banks is available at IntraFi.

The FDIC standard maximum deposit insurance amount (“SMDIA”) is $250,000. The FDIC insurance coverage limit applies per depositor, per insured Network Bank for each account ownership category. Certain trusts are also insured above the standard limits, depending on their structure and beneficiaries. See FDIC
for additional information.

Deposit placement through the Program is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the SMDIA at any one Network Bank, a depositor’s balances at RBC WM may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through the Program satisfies any restrictions on its deposits.

Monies held through the Program are not covered by Securities Investor Protection Corporation (“SIPC”).

RBC Premium Savings will earn the interest rate based on the daily balance in the account. Interest rates/APY (Annual Percentage Yield) are subject to change without notice. Minimum deposit and balance requirements apply and may change. Deposit limits may change and some conditions apply. For more information, please contact your financial advisor.

Neither RBC WM, nor its affiliates or employees provide legal, accounting or tax advice. All legal, accounting or tax decisions regarding your accounts and any transactions or investments entered into in relation to such accounts, should be made in consultation with your independent advisors. No information, including but not limited to written materials, provided by RBC WM or its affiliates or employees should be construed as legal, accounting or tax advice.

Please see RBC Premium Savings to view the current Program Terms and Conditions, Deposit Placement Agreement and Program Interest Rates for more information.