Wealthfront clients may obtain the benefits of FDIC insurance eligibility in a cash account through the FDIC-Insured Deposit Sweep Program and the Program Banks listed below. Once you open and fund your cash account, the available cash balance will be held on your behalf at one or more of the Program Banks assigned to your account. Once at a bank, your cash balance will be eligible for FDIC insurance coverage up to the applicable limits.
Wealthfront Cash Account Program Banks
Program Banks as of 01/30/2019 are:
- East West Bank
- Associated Bank
- New York Community Bank
- Citibank N.A.
If you have any questions about Program Banks, please contact us.
Cash Account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”), a member of FINRA/SIPC. The cash balance in the Cash Account is swept to one or more unaffiliated 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. 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.
Wealthfront Software LLC offers a software-based financial advice engine that delivers automated financial planning tools to help users achieve better outcomes. Investment management and advisory services are provided by Wealthfront Advisers LLC, an SEC registered investment adviser, and brokerage related products are provided by Wealthfront Brokerage LLC, a member of FINRA/SIPC. Wealthfront Software LLC, Wealthfront Advisers LLC and Wealthfront Brokerage LLC are wholly owned subsidiaries of Wealthfront Corporation.