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Preferred Deposit® for Merrill clients

I want to manage my current cash flows, while saving for the future

Having available cash for your personal needs can be as important as pursuing your long-term financial goals. With Preferred Deposit®, you can help manage your everyday expenses and cash flow, as well as your objectives for the future.


Preferred Deposit is a Bank of America bank deposit product offering that you can access through eligible Merrill brokerage accounts. It makes it easy for you to manage your day-to-day cash flows alongside your investments, in a single account. Preferred Deposit also offers:


  • Competitive yield. Your money will be placed into a deposit account with Bank of America N.A., to help you optimize the cash you may need for your goals.
  • Security. As a bank deposit product, Preferred Deposit balances are insured by the Federal Deposit Insurance Corporation (FDIC), up to applicable limits.
  • Convenience. You will have ready access to funds — through your Merrill advisor or MyMerrill — so you can use the money to pay for personal expenses or take advantage of other opportunities.


Preferred Deposit is an ideal way for you to manage your everyday cash, save in advance of making a large purchase and even set up an emergency fund to help prepare for the unexpected.

Part of your larger financial approach

Preferred Deposit is an ideal way to integrate your everyday cash management into your larger financial plan. Preferred Deposit balance and performance information is accessible on your Merrill account statement as well as through your online account access. Your advisor will also be able to help you set up your account and manage the cash you have, as part of your larger financial approach. This can help you make more informed decisions as you work towards your goals. 


Preferred Deposit for Business® is also available for business accounts

If you are a business owner or responsible for managing your business’s cash reserves, Preferred Deposit for Business® can be used to help earn yield and manage working capital for funds held in eligible business accounts at Merrill.


Preferred Deposit for Business can help you build your business through equipment purchases and infrastructure improvements, and even help you create an emergency fund for unexpected business challenges. It also may be the solution for optimizing large amounts of cash if, for example, you’re thinking about selling the business. 


It is important to note that for Preferred Deposit and Preferred Deposit for Business, the minimum initial deposit is $100,000. Thereafter, deposits in whole dollar amounts of $1,000 or more and withdrawals in any whole dollar amount may be made by calling your financial advisor. Deposit and withdrawal requests made by 5 p.m. Eastern time will have same-day settlement.


Let’s start a conversation

Talk to your Merrill advisor to see how Preferred Deposit or Preferred Deposit for Business may help you manage your personal or business finances and support your larger financial strategy.


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