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Merrill
Having a cash balance as part of your investment strategy can be key to pursuing your long-term financial goals. With Preferred Deposit®, a bank deposit product offered through your Merrill Edge® Self-Directed account,1 you can maintain the liquidity of cash while still earning a competitive yield.
Enjoy these key features and benefits:
- Competitive yield — Your money is placed in an interest-bearing Bank of America deposit account. For current rate information, visit merrilledge.com or contact a Merrill Financial Solutions Advisor.
- Security — Preferred Deposit balances are insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable limits.
- Convenience — Get a consolidated view of your total account assets by seeing your Preferred Deposit balance and performance information on your Merrill statement.
More things you should know about Preferred Deposit:
- Cash deposits (deposits, sale proceeds, dividends) will not automatically sweep into Preferred Deposit.
- Make your initial $100,000 minimum purchase of Preferred Deposit by calling the Investment Center at 877.653.4732
– Make additional purchases in whole-dollar amounts of $1,000 or more online
– Make liquidations in any whole-dollar amount online
- If you maintain a margin balance, funds will not sweep out of Preferred Deposit to cover the margin balance. (You may accrue margin interest.)
- Preferred Deposit is not available with retirement accounts.
- The interest rate paid on Preferred Deposit is a variable rate. The interest rate and annual percentage yield may change at any time, without notice or limit.
- You are responsible for monitoring your balances to determine whether they have reached maximum FDIC insurance limits.
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.
Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp.
Investment products: