Enhanced FDIC Insurance
Deposit sweeps, offered in collaboration with participating partner banks, has the potential to enhance FDIC coverage from $250K to up to tens of millions of dollars in relevant circumstances.
Enrollment Error Messages
When creating the Deposit Sweep Account object we validate that the account is eligible for enrollment in Enhanced FDIC Insurance and that the account can be reported to the deposit sweep network successfully. We check both the account and associated persons/businesses to validate fields that will be reported to the network. If any issues are identified with enrollment we return an error message identifying the issue.
Foreign Entities & Deposit Sweeps
The Enhanced FDIC at Treasury Prime is not optimized for enrolling foreign entities without US TINs. However, we can accommodate this at your own risk.
Please be aware that manual oversight is required to monitor foreign entities enrolled in deposit sweeps. For more information about enrolling foreign entities without US TINs, please reach out to your Account Manager.
