Key Takeaways
When considering the Reich & Tang Insured Deposits program, remember our promise of capacity, the value of our flexibility in working with your customer types, and these important attributes:
Protection
- 40 times the standard FDIC limit; up to $10 million in FDIC insurance achieved by allocating customer deposits among multiple participating program banks.
Flexibility
- Available to all account types, including individual, joint, corporate, IRA, UGMA/UTMA, and trust account holders.
Daily Liquidity
- Cash is available when needed for trades or other investment opportunities, or when using debit cards, checks, ATMs, and wire transfers.
- Funds are always accessible and there are no penalties for withdrawals.
Convenience
- Allows you to consolidate each customer’s multiple banking and brokerage relationships into a single account with your firm.