Now you can deposit cash in interest-bearing accounts at multiple Federal Deposit Insurance Corporation (FDIC)-insured banks through the RBC Bank Deposit Program and obtain up to $1.5 million in FDIC insurance coverage.
Here’s how it works:
Through relationships with our RBC affiliate and other banks, your cash is deposited into accounts at multiple FDIC-insured banks so you can enjoy an accumulated total of $1.5 million in FDIC insurance coverage. If your deposit is greater than the coverage available at one bank, the excess amounts will be directed into accounts at other participating banks. Please note that deposits in excess of $1.5 million may be uninsured.
Important disclosure information about RBC Bank Deposit Program
Ask your financial advisor for more information about RBC Bank Deposit Program.