Online account · FDIC insured through partner banks
Wealthfront
Your money is held at 45 banks. Based in Palo Alto, CA. It opens accounts online nationwide. Best rates: savings 4.45% APY.
Rates
No Carrot Score: scores compare banks and credit unions, and Wealthfront holds your money at 45 banks. Its rates are below, with what each one takes.
- Savings—4.45%at $10,000Savings rates →
Wealthfront isn’t a bank. Deposits are FDIC-insured through its 45 partner banks up to $8,000,000 per depositor, as Wealthfront states; that covers a bank failing, not Wealthfront. Cash not yet at a bank (up to $250,000) is covered by SIPC, not the FDIC.
About Wealthfront
The Cash Account is Wealthfront's account for everyday cash, combining checking and savings features in one account.
It's offered by Wealthfront Brokerage, a subsidiary of Wealthfront Corporation; Wealthfront isn't a bank, and the Cash Account itself isn't a deposit account.
Cash is swept to a network of program banks, where it earns interest; Wealthfront reports more than 1.5 million funded clients.
- Headquarters
- Palo Alto, CA
Eligibility
Who can open an account
From Wealthfront’s own terms and help pages. Check with Wealthfront before you apply.
- Must be 18 or older.
- Must have a U.S. Social Security number.
- Must have a permanent U.S. residential address and currently live in the U.S.; U.S. citizens living abroad can't open an account.
- Must have a U.S. phone number that can receive SMS text messages.
- No subscription: the Cash Account has no account fees and a $1 minimum to open.