Finvest High-Yield Cash Account

The Cash Sweep Program automatically moves your uninvested cash (cash intended for investing but that you have not yet invested or spent) into partner banks where it earns interest. Interest is calculated daily and paid monthly based on the current APY, which may change over time. All swept cash remains FDIC insured up to applicable limits.

Until your funds are swept, they are held in your brokerage account and protected by the SIPC up to $500,000 (including $250,000 for claims for cash). However, when funds are swept as part of the Cash Sweep Program, they are no longer held in your brokerage account and are no longer protected by SIPC. Instead, they become eligible for FDIC insurance which currently is $250,000 per partner bank, inclusive of any other deposits you may already hold at that bank in the same ownership capacity.

You’re paid interest by the program banks monthly, and you can keep track of how much interest you’ve earned in the app in Settings (person icon) → Account → Cash sweep program.

Please ensure you read the Terms and Conditions of the Sweep Program carefully. You may out-out of the Sweep Program at any time in the app in Settings (person icon) → Account → Cash sweep program.