SEI Integrated Cash Program

Available only with SEI Private Trust Company (SPTC), the SEI Integrated Cash Program³ (the "Program") is designed to sweep available cash into an interest-earning designated cash sweep vehicle.

Insured Deposit Cash

Cash balances in your SPTC account will be deposited into bank deposit accounts eligible for extended insurance by the FDIC.

Extended FDIC insurance

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created to maintain stability and public confidence in the nation's financial system. FDIC insurance is backed by the full faith and credit of the United States government and protects against the loss of deposits if an FDIC insured bank fails, by providing insurance up to $250,000 per depositor, per insured bank, for each account ownership category. Since FDIC insurance began in 1934, no depositor has lost a single penny of insured funds due to bank failure.⁴

Insured Deposit Cash helps to maximize safety and stability by providing extended FDIC insurance. Extended FDIC insurance allows investors to access FDIC insurance on deposits that exceed the standard coverage limit by automatically spreading up to $2.5 million² in cash across a network of multiple approved banks.⁵

Program banks⁵

Important information

^*For illustrative purposes only. Assumes the client deposit of $2.5 million represents 1% of their eligible account's value. 

¹Subject to SEI Private Trust Company (SPTC) cutoff times as well as bank discretion. Intraday cutoffs vary by transaction type. While cash from the Insured Deposit Cash account will generally be available on the next business day, Federal banking regulations require banks to reserve the right to require written notice seven business days before permitting withdrawals from the Deposit Accounts, although the banks may in fact not require this notice. If Sweep (or Excess) Bank(s) do require the seven-day written notice, this could delay your receipt of your cash in your Program Deposit and could also delay any investment (or distribution) of that cash.

²The standard insurance is $250,000 per depositor, per insured bank, for each account ownership category. More information can be found at www.fdic.gov/deposit/deposits. 

³See the SEI Integrated Cash Program Disclosure Document for details and restrictions.

⁴Source: https://www.fdic.gov/about/what-we-do/

 ⁵Subject to certain limitations and restrictions. This list is subject to change. Banks in the SEI Integrated Cash Program (Program) may be excluded from receiving Program deposits in the event that total assets at a Program bank(s) (including assets that are held with the bank outside of Insured Deposit Cash from SEI Private Trust Company (SPTC) exceed the FDIC insurance limits. “Pending activation" indicates a bank in the SEI Integrated Cash Program that is in the process of onboarding, but is not yet available to receive Program deposits. 

It is your obligation to monitor your account(s), your FDIC coverage and your FDIC insurance eligibility. See www.fdic.gov for more details regarding FDIC coverage. 

⁶As of December 19, 2024. Interest rates are subject to change. Not all interest rate updates occur simultaneously.

Accounts that are Internal Revenue Code Section 403(b)(7) custodial accounts are not eligible to participate in the SEI Integrated Cash Program. Additional exceptions may apply.

Custody services provided by SEI Private Trust Company, a federally chartered limited purpose savings association and wholly owned subsidiary of SEI Investments Company (SEI). Your financial advisor is not affiliated with SEI or its subsidiaries.

If you opened your account on or after August 1, 2024, your account may be included in an upcoming transition to the current program. Please refer to recent communications received from SEI, and/or contact your financial advisor.