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What is Wealthfront’s Cash Account?

Wealthfront’s cash account is neither your traditional checking or savings account. It is a high-interest cash account that offers many of the same features you typically associate with high-yield savings accounts, but with fewer restrictions.

Here are the highlights:

  • 2.32% APY. No strings attached. That interest rate is more than 20x greater than the national average according to Bankrate as of 8/2/19.
  • FDIC insurance for up to $1 million. Feel confident that your money is safe and secure with 4x the amount of insurance the average bank offers. Learn more.
  • No fees. No advisory fees, no management fees, no surprises. Learn more.
  • Zero market risk. Your cash is kept out of the markets, so you never have to worry about short-term volatility.
  • Unlimited, free transfers. Easily move your money in and out of your cash account at no cost to you.  (Transfers across Wealthfront accounts coming soon!) Learn more.
  • $1 minimum. It only takes $1 to open and there are no additional deposit requirements.

Make sure to keep enough in your everyday checking account to cover your regular bills and expenses. In the future, we plan to support additional features to serve your everyday cash needs!

To learn more about the Wealthfront Cash Account, please see our blog post.

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The Cash Account Annual Percentage Yield (APY) is as of August 2 2019. The APY may change at any time, before or after the Cash Account is opened.

Cash Account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”), a member of FINRA/SIPC. Neither Wealthfront Brokerage nor its affiliates is a bank. The cash balance in the Cash Account is swept to one or more 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 Brokerage 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 (“Wealthfront Advisers”), an SEC registered investment adviser, and financial planning tools are provided by Wealthfront Software LLC (“Wealthfront”).

Nothing in this communication should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security.

Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.

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