Banking Services from Bionic Financial
Comprehensive cash management solutions
Free banking services include cash management which can be an important part of a wealth management strategy. Through our custodian, TD AMERITRADE Institutional, we can provide you with comprehensive and streamlined cash management solutions.
The selected material below is quoted from TD AMERITRADE Institutional:
- FDIC Insured Deposit Accounts (IDA)
- Margin lending
- ACH on demand
- Automatic transfer scheduling
- Automated periodic payments
- ATM fee rebates
- Debit card for end clients
Enhanced FDIC coverage
TD Bank, an affiliate of TD Ameritrade, has a dual-bank charter. TD Bank N.A. and TD Bank USA, N.A. are individually in the IDA program. Each bank qualifies for separate FDIC coverage of up to $250,000 per depositor. That brings the total FDIC coverage to $500,000 total per IDA depositor or $1 million for joint accounts.
Cash in a TD Ameritrade FDIC Insured Deposit Account is held at TD Bank, N.A. and TD Bank USA, N.A., affiliates of TD Ameritrade. Deposit accounts offered by participating institutions are eligible for Federal Deposit Insurance Corporation (FDIC) insurance up to $250,000. Limits are per account ownership per institution. Please monitor your entire deposit to ensure it does not exceed the coverage limit. To learn more about FDIC coverage go to www.fdic.gov.”
The TD Ameritrade Asset Protection Guarantee
“At TD Ameritrade, we are committed to delivering our clients one of the highest levels of security in the industry — at no cost to you. That means we will reimburse you any cash or shares of securities from your account that are lost as a result of unauthorized activity. We are promising you this protection, which adds to the provisions that already govern your account, in case unauthorized activity ever occurs and we determine it was through no fault of your own.”
Certificates of Deposit
“Certificates of Deposit (CDs) purchased through TD Ameritrade are issued by banks insured by the Federal Deposit Insurance Corporation (FDIC). In addition, cash in your account can be held in a TD Ameritrade FDIC Insured Deposit Account (IDA). Balances in an IDA are held at TD Bank, N.A. and/or TD Bank USA, N.A., where they are insured by the FDIC against bank failure for up to $250,000 per depositor, per bank. TD Bank, N.A. and TD Bank USA, N.A. are affiliates of TD Ameritrade. Each bank will have separate FDIC coverage of up to $250,000 per depositor for up to $500,000 total per IDA depositor.”
“TD Ameritrade, Inc. is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure is available on request at SIPC.org.”
“Additionally, TD Ameritrade provides each client $149.5 million worth of protection for securities and $2 million of protection for cash through supplemental coverage provided by London insurers. In the event of a brokerage insolvency, a client may receive amounts due from the trustee in bankruptcy and then SIPC. Supplemental coverage is paid out after the trustee and SIPC payouts and under such coverage each client is limited to a combined return of $152 million from a trustee, SIPC and London insurers. The TD Ameritrade supplemental coverage has an aggregate limit of $500 million over all customers. This policy provides coverage following brokerage insolvency and does not protect against loss in market value of the securities.”
Click here to read more about the TD AMERITRADE Guarantee.
“BIONIC” is a trademark owned by Bionic Capital LLC in Los Angeles, CA. The trademark is for “financial services, namely, investment advice, investment management, investment consultation and investment of funds for others, including private and public equity and debt investment services.” FIRST USE: 20090728. FIRST USE IN COMMERCE: 20090728
Bionic Capital LLC also owns a "BIONIC" trademark for "banking services." FIRST USE: 20120409. FIRST USE IN COMMERCE: 20120409