Sweep and Savings Yields
UBS Financial Services Inc. (“UBS" or “we”) offers access to a wide range of deposit options at our affiliate bank, UBS Bank USA (“UBS Bank”). Clients may manage their liquidity need through participation in UBS cash sweep programs and enrollment in savings products, such as UBS Bank USA Core Savings (“UBS Core Savings”) and certificates of deposit issued by UBS Bank.
The current annual percentage yield (“APY”) for UBS cash sweep programs and UBS Core Savings are noted below. APY is an annualized rate that measures the total amount of interest paid on deposits based on the interest rate and the frequency of compounding. Interest paid on deposits is tiered based on the total amount of eligible deposits in a Marketing, SEP, SIMPLE, or Qualified Plan Relationship as defined in the Agreements and Disclosures booklet. APY is variable and subject to change at any time.
Information about FDIC Insurance
Your deposits at UBS Bank and other banks participating in UBS cash sweep programs (collectively, “Program Banks”), except as noted below, are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per depositor for each insurable ownership capacity in which the deposit is held. The Program Banks in UBS cash sweep programs are described in the applicable sections of this page. Please note that FDIC deposit insurance only covers the failure of an insured bank. UBS is not an FDIC-insured bank. Certain conditions must be satisfied for deposit insurance coverage to pass through to clients’ funds placed by UBS at FDIC-insured banks. Balances in deposit accounts at UBS Bank and other Program Banks are not eligible for protection by the Securities Investor Protection Corporation (“SIPC”).
UBS Cash Sweep Programs
UBS offers two cash sweep programs to automatically deposit available cash balances in eligible UBS accounts into interest-bearing accounts at UBS Bank or other Program Banks on a daily basis.
- UBS FDIC-Insured Deposit Program. Available cash balances in retail trust accounts will be swept daily up to $249,000 or $498,000 for joint accounts (“Deposit Limit”) to a deposit account at each Program Bank in the order in which the banks are listed at ubs.com/bankprioritylists. UBS Bank is the first bank on the list. Once the Deposit Limit has been reached at each Program Bank, any excess funds will be swept to UBS Bank without limit. The bank list is subject to change at any time.
- UBS Bank Sweep Programs. These programs are subdivided into three:
- UBS Insured Sweep Program. Available cash balances in most retail and business accounts will be swept daily up to the Deposit Limit to a deposit account at each Program Bank in the order in which the banks are listed at ubs.com/bankprioritylists. UBS Bank is the first bank on the list. Once the Deposit Limit has been reached at each Program Bank, any excess funds will be swept to UBS Bank without limit. The bank list is subject to change at any time.
- UBS Deposit Account Sweep Program (“Deposit Program”) and UBS Business Account Sweep Program (“Business Program”). Available cash balances in advisory retirement accounts and discretionary plan participant accounts will be swept daily to a deposit account at UBS Bank through the Deposit Program or the Business Program, as applicable. Certain UBS accounts that enrolled in the Deposit Program or the Business Program before November 18, 2019 sweep to UBS Bank up to $250,000 or $500,000 for joint accounts, with excess funds swept to UBS AG, Stamford Branch without limit. Deposits held at UBS AG, Stamford Branch are not insured by the FDIC, SIPC, or any governmental agency of the United States, Switzerland, or any other jurisdiction.
For more information about UBS cash sweep programs, please see UBS FDIC-Insured Deposit Program Disclosure Statement and UBS Bank Sweep Programs Disclosure Statement or contact your Financial Advisor.
Exclusion from UBS Cash Sweep Programs:
Certain UBS accounts, such as 403(b) plans, qualified pooled plans, and corporate cash management accounts, are not eligible for the cash sweep programs and instead sweep into a money market fund. Sweeps in money market funds are covered by the SIPC. Money market fund sweeps are not FDIC-insured, not a deposit, and may lose value.
UBS Core Savings.
UBS Core Savings can help UBS clients earn a competitive yield on their short-term cash while keeping their long-term investment strategy on track. You may make an initial minimum $100 deposit from an eligible UBS account into UBS Core Savings, and subject to availability, into a limited-time promotional rate for UBS Core Savings. Each withdrawal from UBS Core Savings in excess of five per month is subject to a $25 fee (may reduce earnings), or depending on your UBS account type, may result in liquidation of your entire UBS Core Savings balance. For more information about UBS Core Savings, please see UBS Bank USA Core Savings Disclosure Statement or contact your Financial Advisor.
Table 1 – UBS FDIC-Insured Deposit Program Yields
Table 2 – UBS Insured Sweep Program Yields
Table 3 – UBS Deposit Account Sweep Program Yields
Table 4 – UBS Business Account Sweep Program Yields
Table 5 – UBS AG, Stamford Branch Sweep Program Yields
Table 6 –Money Market Funds and Other Sweep Yields
Table 6 –Money Market Funds and Other Sweep Yields
Performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be higher or lower than the performance data quoted. Yields will vary.
You could lose money by investing in a money market fund. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, a fund cannot guarantee it will do so. A money market fund's sponsor has no legal obligation to provide financial support to a money market fund, and you should not expect that the fund's sponsor will provide financial support to a money market fund at any time.
Mutual funds are sold by prospectus, which includes more complete information on risks, charges, expenses and other matters of interest. Investors should read the prospectus carefully before investing. For more information contact your Financial Advisor.
UBS Asset Management (US) Inc. is the principal underwriter for the money market funds.
Table 7 – UBS Bank USA Core Savings
Table 8 – UBS Bank USA Core Savings Yields – Promotional*
UBS Core Savings promotional rate of 5.40% APY is available from February 13, 2024 through June 9, 2024 (the “promotional period”) and is effective after you deposit $100 or more in net new cash into UBS Core Savings. Deposits must be received before May 24, 2024 to be eligible for the promotional rate.
The promotional rate only applies to net new cash you deposit into UBS Core Savings (“UBS Core Savings”). Cash is considered net new if (i) the funds are inflows from sources other than an existing UBS account, and (ii) the amount exceeds the aggregate amount of outflows from the account during the period commencing on the date that is one business day prior to the promotion start date and ending on the date that UBS Core Savings is funded. Cash inflows may include: direct deposits (e.g., payroll or annuity); check deposits (including through mobile deposit capture); and wire, ACH and other funds transfer inflows. Cash outflows may include: checks; bill payments; ATM withdrawals and debit card purchases; autopayments (e.g., credit card); and wire, ACH and other funds transfer outflows. Net new cash does not include: internal transfers; dividends and interest; maturities and redemptions; other assets transferred in or out (i.e., securities as well as cash-like securities such as money market funds); or fees.
UBS Core Savings is available only if you have a securities account with UBS Financial Services Inc. and is available only to individuals, nonprofit entities, business entities and U.S. governmental entities. Rates and rate tiers may change at any time without prior notice. Each withdrawal in excess of five per month is subject to a $25 fee (may reduce earnings) or liquidation of the entire UBS Core Savings balance will apply, depending on your account type. Review the UBS Bank USA Core Savings Disclosure Statement for additional details.
Promotional rate ends on June 9, 2024. At the end of the promotional period, interest rates will be tiered based on your eligible deposits in a Marketing Relationship. UBS Bank USA reserves the right to terminate the offer on new deposits at any time.
The annual percentage yield quoted is valid during the promotional period. Upon expiration, interest will be applied based on interest tiers noted under Table 7.
