Advantage Bank Deposit Program
Through the Advantage Bank Deposit (“ABD”) Program, uninvested cash balances in Oppenheimer brokerage accounts are swept automatically into interest-bearing, FDIC-insured Deposit Accounts at one or more Deposit Banks set forth on the Deposit Bank List. Cash in these Deposit Accounts is eligible for FDIC insurance of at least $5,000,000 ($10,000,000 for joint accounts), subject to applicable Program and FDIC insurance limitations. See the Program’s Terms and Conditions for more information.
Advantage Bank Deposit Program Interest Rates and Yields
The interest rate on Deposit Accounts is based on aggregate ABD Program balances in a client's eligible household accounts according to the tiers outlined below. Interest rates and interest rate tiers may change at any time. Interest Rates and Annual Percentage Yields were last changed 09/18/2026. See the Program’s Terms and Conditions for more information on interest rates and interest rate tiers.
| Average Household ABD Balance | Interest Rate | Annual Percentage Yield |
|---|---|---|
$0.01 - $249,999.99 | 0.25% | 0.2503% |
$250,000.00 - $499,999.99 | 0.30% | 0.3004% |
$500,000.00 - $999,999.99 | 0.35% | 0.3506% |
$1,000,000.00 - $4,999,999.99 | 0.50% | 0.5013% |
$5,000,000.00 and greater | 0.60% | 0.6018% |
Note that Oppenheimer & Co. Inc. is not affiliated with any of the ABD Program Deposit Banks. You are responsible for monitoring ABD Program posted interest rates and for determining that your continued participation in the ABD Program meets your personal financial goals. The ABD Program is not intended for the long-term investment of cash holdings
Advantage Bank Deposit Program Banks
Click here for the current Advantage Bank Deposit Program Deposit Bank List.
FDIC Insurance
Your cash, while deposited in any one of the Program’s Deposit Banks, will be eligible for FDIC insurance up to a standard maximum FDIC deposit insurance amount in the aggregate with all other deposits that you hold in the same right and capacity in that same bank, which is generally $250,000 per bank. You are responsible for monitoring the total amount of deposits that you hold with any bank on the Deposit Bank List in order to determine the extent of FDIC insurance available to you, including any deposits that you maintain in the same capacity directly with a Deposit Bank, or through an intermediary (such as Oppenheimer or another broker-dealer). The aggregation of such deposits may cause you to exceed the maximum amount of FDIC insurance allowable. Please contact your Financial Professional immediately in the event that you think this may be the case in order to designate that listed bank as ineligible to receive Program Deposits.
Cash deposited in Deposit Accounts is not eligible for coverage by the Securities Investor Protection Corporation (“SIPC”). FDIC deposit insurance and SIPC coverage are very different. FDIC insures depositors against loss of principal value of a deposit in the event of the insolvency of the bank that issued the deposit. SIPC provides protection against custodial risk to clients of securities brokerage firms, like Oppenheimer, in the event such firms become insolvent. Unlike FDIC insurance, SIPC does not insure against the loss of your investment, nor does SIPC insurance ensure the quality of investments or protect against a decline or fluctuations in the value of your investment. SIPC protects each client’s securities and cash held in a client’s brokerage account at an insolvent brokerage firm. SIPC protects against the loss of customer securities and cash up to a total of $500,000 (of which up to $250,000 may be cash) per customer in each separate capacity under SIPC rules. For further information on FDIC insurance limits, please visit www.fdic.gov. For further information on SIPC coverage limits, please visit www.sipc.org or call 202-371-8300.
If you have any questions about the ABD Program, consult the Terms and Conditions of the ABD Program or contact your Oppenheimer Financial Professional.