Wealthfront’s cash account is a new account type that helps you earn a high return on your uninvested cash.
It’s a secure place to stow away cash you may plan to invest, spend within a few years or use in an emergency.
Make sure to keep enough in your everyday checking account to cover your regular bills and expenses.
For more information, check out our blog post on building the emergency fund that’s right for you.
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The APY may change at any time, before or after the Cash Account is opened.
The cash balance in the Cash Account is swept to one or more banks (the “program banks”) where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC insurance is not provided until the funds arrive at the program banks. FDIC insurance coverage is limited to $250,000 per qualified customer account per banking institution. Wealthfront uses more than one program bank to ensure FDIC coverage of up to $1 million for your cash deposits. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the program banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits at program banks are not covered by SIPC.
Investment management and advisory services are provided by Wealthfront Advisers LLC, an SEC registered investment adviser, and brokerage related products, including the Cash Account, are provided by Wealthfront Brokerage LLC, a member of FINRA/SIPC. Wealthfront Software LLC (“Wealthfront”) offers a free software-based financial advice engine that delivers automated financial planning tools to help users achieve better outcomes. Neither Wealthfront Brokerage nor its affiliates is a bank.
Wealthfront, Wealthfront Advisers LLC and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.