Evolve’s FDIC-Insured Deposit Sweep Program

What is the FDIC-Insured Deposit Sweep Program?

The FDIC, or Federal Deposit Insurance Corporation, protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. Through Evolve Bank & Trust’s FDIC-Insured Deposit Sweep Program, depositor funds are FDIC insured. Evolve is member FDIC.

As part of our sweep program, Evolve opens each applicable customer a sweep account(s) to sweep funds to other banks for custody. These banks are called Priority Banks. Each day, Evolve determines the applicable amounts of funds to sweep to the respective priority banks. Depositors may opt-out of available priority banks, however, FDIC insurance may be reduced or forfeited.

Are you a Mercury customer? Click here

Are you a YieldStreet or Holdingz customer? Click here

All other customers, please click here.

Not sure? Please contact us