Insured Bank Deposit Sweep Program
Instructions
The Insured Bank Deposit Sweep Program allows eligible IBKR clients to obtain up to $2,500,000 ($5,000,000 for joint accounts) of FDIC insurance in addition to existing $250,000 SIPC coverage for total coverage of $2,750,000 ($5,250,000 for joint accounts).
Who is eligible for the Insured Bank Deposit Sweep Program?
You can access this page if you are a(n):
- Individual account without a designated transfer-on-death beneficiary
- Joint account
- IRA (excluding Interactive Advisors IRAs)
- Organizational account
To enroll in the Insured Bank Deposit Sweep Program
-
Click the User menu (head and shoulders icon in the top right corner) > Settings > Account Configuration > Insured Bank Deposit Sweep Program.
The Insured Bank Deposit Sweep Program page appears
- Click the toggle button to Yes and click Continue.
- Read and sign the clearing agreement to authorize the program.
- Click Continue to save your preference, then click Ok to return to the Account Settings page.
To Change or Opt Out of the Insured Bank Deposit Sweep Program
- Click the User menu (head and shoulders icon in the top right corner) > Settings > Account Configuration > Insured Bank Deposit Sweep Program.
- Uncheck any of the banks participating in the Insured Bank Deposit Sweep Program to discontinue using them. Click Save.
- Click Opt Out to exit the program.
Additional Resources
Learn About the Broker Portal Interface at IBKR Campus