Bank / Credit Union
Wealthfront Cash Account now offering $8M in FDIC insurance
October 23, 2023
Wealthfront Corp. announced its Cash Account will offer up to $8 million in FDIC insurance for individuals and $16 million for joint accounts. The account is offered through Wealthfront's partner banks, according to a press release.
The account provides a 4.8% APY with no fees or minimums, as well as surcharge-free withdrawals, $10 wire transfers and access to an ATM network.
"This year rattled consumer confidence in many financial institutions and put a premium on having as much FDIC insurance as possible to keep funds safe," Dave Myszewski, VP of product at Wealthfront, said in the release. "Our combination of smart technology and partnerships with FDIC-insured banks means we can offer some of the highest FDIC protection available. In addition to providing an industry-leading APY and FDIC coverage, we will soon be rolling out more features that make our Cash Account an even better place for your uninvested cash."
