Cash Sweep Program Rates

Our Cash Sweep Program pays interest at specific rates based on the tiers below, which yield a blended rate over the entire balance.

Current Interest Rates and Tiers

As of April 18, 2023
Tier Rate APY
$0–$24,999 0.46% 0.47%
$25,000–$74,999 0.47% 0.47%
$75,000–$99,999 0.48% 0.48%
$100,000–$249,999 0.49% 0.49%
$250,000–$499,999 0.49% 0.49%
$500,000–$1,999,999 0.50% 0.50%
$2,000,000+ 1.16% 1.17%

The rates published above are effective as of the date stated on the website. When rates change and new rates become effective, we attempt to update them promptly on our website.

Rates are variable and may change at any time. Each day, we calculate the interest on your cash and add it to your account monthly. We round the daily interest amount to the nearest $0.01. If your daily interest is less than $0.005, then you may not be paid any interest on that day.

As of April 18, 2023
Examples Blended Rate APY
$8,000 0.46% 0.47%
$45,000 0.47% 0.47%
$75,000 0.47% 0.47%
$200,000 0.48% 0.48%
$400,000 0.48% 0.49%
$750,000 0.49% 0.49%
$1,500,000 0.50% 0.50%
$3,000,000 0.72% 0.72%
$6,000,000 0.94% 0.94%

To help you get the highest interest rate possible, we combine the Cash Sweep Program funds of all your accounts into one large fund. If you have $10,000 in cash in an individual, retirement, and joint account, we deposit your money as $30,000, rather than three smaller deposits of $10,000. This allows you to reach a higher tier and earn more interest.

Cash Sweep Program Banks

Below are the banks that participate in our Cash Sweep Program:

Bank Address
Androscoggin Savings Bank 30 Lisbon St.
Lewiston, ME 04240
BankUnited, N.A 623 5th Avenue
New York, NY 10022
Chain Bridge Bank 1445-A Laughlin Avenue
McLean, VA 22101
Citibank 399 Park Avenue
New York, NY 10001
Eagle Bank 7815 Woodmont Ave.
Bethesda, MD 20814
Goldman Sachs Bank USA 200 West Street
New York, NY 10282
Israel Discount Bank 511 Fifth Ave
New York, NY 10017
Malvern Federal Savings Bank 421 East Lancaster Avenue
Paoli, PA 19301
Merrick Bank 10705 S Jordan Gateway, Suite 200
South Jordan, UT 84095
Simmons First National Bank 425 W. Capitol Avenue, 14th Floor
Little Rock, AR 72201
Truxton Trust Company 4525 Harding Rd., Suite 300
Nashville, TN 37205
United Community Bank 2 W Washington St
Greenville, SC 29601
Western Alliance Bank One East Washington Street
Phoenix, AZ 85004

In addition to the Cash Sweep Program Banks your funds can be held by us directly as part of the Cash Sweep Program. When we hold your funds they are insured by SIPC (subject to SIPC limitations) and supplemental insurance protections.