Cash Reserve is our no-fee, 100% cash account, which shields your money from market volatility. Because the returns on this account are low, relative to potential market returns, we typically recommend it only for money you plan to spend within the next year. This account includes the following features: 4.75% APY (variable)*, FDIC-insured up to $2 million at our program banks ($4 million for joint accounts)†, and fast access to your money.
Who it's for
Anyone depositing money to be spent soon
Cash Reserve is for cash you intend to purchase securities with and should not be viewed as a long-term investment option. Program bank list last updated October 10, 2023.