Advantage Bank Deposit Program

Through the Advantage Bank Deposit (“ABD”) Program, available cash balances in Oppenheimer brokerage accounts are swept automatically into interest-bearing, FDIC-insured Deposit Accounts at one or more Deposit Banks set forth on the Deposit Bank List. Funds in these Deposit Accounts are eligible for FDIC insurance of at least $5,000,000 ($10,000,000 for joint accounts), subject to applicable limitations. (See the Terms and Conditions for more information.)


Interest paid on Deposit Accounts is based on aggregate ABD Program balances in a client’s household, according to the tiers outlined below. Current Interest Rates and Annual Percentage Yields, which may change depending on market conditions, were last changed 07/09/2018. (See the Terms and Conditions for more information.)


Average Household ABD Balance Interest Rate Annual Percentage Yield
$0.01 - $99.999.99 0.15% 0.1501%
$100,000.00 - $249,999.99 0.17% 0.1701%
$250,000.00 - $999,999.99 0.40% 0.4008%
$1,000,000 - $4,999,999.99 0.50% 0.5012%
$5,000,000 and over 0.75% 0.7528%

Note that Oppenheimer & Co. Inc. is not affiliated with any of the ABD Program Deposit Banks.


Advantage Bank Deposit Program Banks

Click here for the Deposit Bank List.

FDIC Insurance


Your money, while deposited in any one of the Program Banks that are part of the ABD Program, will be eligible for FDIC insurance up to a standard maximum deposit insurance amount in the aggregate with all other deposits that you hold in the same right and capacity in that same bank, which is generally $250,000 per bank. Insurance limits are periodically increased based on an infl ation index. You are responsible for monitoring the total amount of deposits that you maintain with any listed bank in order to determine the extent of FDIC insurance available to you, including, without limitation, deposits held through any other accounts at Oppenheimer, deposits that you maintain directly in the same capacity with any listed bank or any CDs issued by a listed bank. The aggregation of such deposits may cause you to exceed the maximum amount of FDIC insurance allowable. Please contact your Financial Advisor immediately in the event that you think this may be the case. These bank deposits are not protected by SIPC or any excess insurance held by Oppenheimer.1


If you are interested in taking advantage of this product, or for information concerning other investment opportunities, such as money market funds, please contact your Oppenheimer Financial Advisor.


1 FDIC deposit insurance and SIPC coverage are very different. FDIC insures depositors against loss of principal value of a deposit in the event of the insolvency of the bank that issued the deposit. SIPC coverage protects against a disappearance of securities that results from the insolvency of a broker-dealer and a loss of customer cash held as a general obligation of the broker-dealer up to the above stated limits. SIPC coverage does not protect against a decline in value of securities, and provides no coverage for balances held on deposit at a bank, even if held through a broker-dealer. For further information on FDIC insurance limits, please visit or call (877) 275-3342. For further information on SIPC coverage limits, please visit or call (202) 371-8300.


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