R&T Insured Deposits (RTID®) Program

Leverage Technology to Manage Cash Sweep Programs.

With the R&T Insured Deposits (RTID®) program, broker-dealers, independent trust companies, and other institutions can configure a cash sweep program tailored to their specific needs.

For over three decades, many of the largest U.S. broker-dealers have preferred insured deposit sweep programs over money market mutual funds, establishing them as the industry standard. The RTID program enables broker-dealers to help their customers preserve principal, access expanded deposit insurance coverage, earn competitive rates¹, and maintain daily access² to their cash in the program. For participating receiving banks, the RTID program provides a cost-effective source of wholesale deposit funding.

Offer Your Customers

Safety

Access to expanded deposit insurance coverage on their funds in the program.

Liquidity

A daily liquidity alternative to money market funds.²

Rates/Yields

Interest rates comparable to other cash sweep options.¹

How It Works

Under the RTID program, broker-dealers sweep their customers’ funds into deposit accounts across a network of participating receiving institutions in increments of up to $250K per customer identifier (e.g., TIN), per account ownership category, per receiving institution. This provides your customers with access to expanded deposit insurance coverage on their funds up to the program limit.³

NOTES:
*R&T has an internal Bank Review Team for verifying initial and ongoing capitalization of the Receiving Institutions. R&T does not provide bank monitoring services or advice to Participating Institutions.

Program Advantages

Our client portals offer a convenient platform to approve wires, view reports, access historical data, and perform reconciliations—all in one place.

Simple to Manage:

R&T serves as your single point of contact for all reporting and program support.
Configurable:

Leverage R&T's proprietary technology and established network of receiving institutions to configure the level of deposit insurance coverage and other program features for your customers.
Available for Many Account Types:

The RTID program supports a variety of account types, including corporate and retirement accounts.
Seamless Integration:

Integrated with most back-office systems, with full implementation support from our experienced team.
Diversified Network:

Access deposits from a wide range of sources, including major broker-dealers, clearing firms, and other financial institutions.

¹ While interest rates obtained on funds placed at receiving institutions under the RTID program may, under certain circumstances, outperform cash alternatives, such as money market funds, the primary objective of the RTID program is to provide customers with convenient access to expanded FDIC insurance coverage on their funds (and not for investment enhancements or higher rates of returns or profits).

² Under the RTID program, funds are deposited into demand deposit accounts (DDAs) or money market deposit accounts (MMDAs) at receiving institutions. Where your customer funds are held in MMDAs, the return of your customer funds from the RTID program may be delayed as, under federal regulations, the receiving institution is permitted to impose a delay of up to seven days on any withdrawal request from an MMDA.

³ Subject to the RTID Program Customer Terms & Conditions. Any funds placed into the RTID Program above the program limit (being excess funds) are placed into deposit accounts at excess receiving institutions and are not eligible for access to deposit insurance coverage (subject to FDIC laws and regulations, which may permit access).

From Our Clients

“The R&T's Insured Deposits program was a ‘no-brainer’ for us. In the current interest rate environment, it allowed us to exponentially increase our customers' yield on cash, giving them an FDIC-insured sweep vehicle and equipping us to compete with RIAs and brokerage firms who are offering insured deposit sweep options. We are glad that we chose to partner with R&T.”

President & CEO
Kentucky-Based Trust Company