Wealthfront has a 2.51% APY cash account for all US residents.
The high interest account covers up to $1M and as little as $1. This is a straightforward brokerage account which holds the cash in FDIC accounts.
While it’s not exactly a savings account, it functions like one.
Wealthfront cash account details
- Account type: Cash account
- APY: 2.51% APY
- Min balance: $1
- Max balance: $1M
- Availability: Nationwide
The account has no fees associated.
How to get the high rate
- Sign up for an account here.
- Deposit at least $1.
You can ACH cash over each week.
You can make unlimited, rather than 6, withdrawals per month.
This isn’t a bank account, once again, but functions as a brokerage account. This is why you can have up to $1M rather than the FDIC of $250K as typical accounts do.
The account works the same as a savings accounts since there’s no debit card attached to the account, however, those may be added as a later feature. APY earning paid beginning of each month.
This type of account allows you unlimited withdrawals each month and you get a very high interest rate.
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