Vanguard Cash Plus Account

Get a competitive yield on your short-term savings with a cash management account that features a bank sweep insured by the FDIC.

Open a Cash Plus Account

What's the Vanguard Cash Plus Account?

The Vanguard Cash Plus Account is a savings account alternative. It allows you to keep your short-term cash and your long-term investments at Vanguard. All in one place.


For illustrative purposes only

Convenient cash management

You can view and manage the Vanguard Cash Plus Account alongside your other Vanguard accounts online and on our app. You'll get routing and account numbers to link and move your money however you need.1

  • Next-day bank transfers.
  • Direct deposit.
  • Paying bills.
  • Mobile check deposit.
  • Unlimited transactions.
  • Compatibility with apps like PayPal and Venmo.
  • Next-day bank transfers.
  • Direct deposit.
  • Paying bills.
  • Mobile check deposit.
  • Unlimited transactions.
  • Compatibility with apps like PayPal and Venmo.

Vanguard Cash Plus Account benefits

Competitive yield

You could earn up to 8 times more than the traditional bank savings account.2

FDIC coverage

Feel good knowing the bank sweep is eligible for FDIC (Federal Deposit Insurance Corporation) insurance.3

Extensive security

We protect your money like it’s our own with Vanguard’s round-the-clock security features.

No or low cost

  • $0 to open an account.
  • $0 minimum balance.
  • $0 account service fees when you sign up for e-delivery.
  • $0 to transfer money between Vanguard accounts, EBT (electronic bank transfers), and ACH (automated clearing house) transactions.


There may be low fees for certain transactions such as outgoing wire transfers.4

See the Vanguard brokerage and commission fee schedule

How does it compare to a traditional bank savings account?

In 2 years, you could've earned nearly $1,000 more with our bank sweep program, than with a traditional bank savings account.



Source: Vanguard and FDIC National Rates and Rate Caps. This example is for illustrative purposes only and does not represent the return on any particular investment. It assumes a $10,000 investment, no additional transactions are made and factors in compounding. It is based on an estimate of total interest earned during the period May 24, 2022 through December 30, 2024 using the Vanguard Cash Plus bank sweep program’s actual daily APY (annual percentage yield will vary and may change at any time). For savings accounts, the applicable monthly APY according to FDIC National Rates and Rate caps was used as the daily APY for each month presented (During this time the average APY rate for Savings was 0.46%, and the Cash Plus Account was 4.15%.) There may be other material differences between these products that must be considered prior to investing, including the level of risk associated with each product type. Past performance is no guarantee of future results. 

One account. Two ways to divvy up your cash.

No matter how you slice it, you can access your money anytime and earn more interest than you would with a regular savings account.

Keep all your money in the bank sweep program

The bank sweep is where all your account deposits go, and where money will come from when you make a withdrawal. The sweep program moves eligible balances to one or more program banks, where they're eligible for FDIC coverage.3

  • $0 minimum investment. 

  • FDIC insured up to $1.25 million for individual accounts and $2.5 million for joint accounts, subject to applicable limits.3 

  • Money with program banks.
     
Learn about the importance of an emergency fund

Diversify into 5 Vanguard money market funds

Money market funds are low-risk mutual funds that invest in short-term, high-quality debt like government securities and Treasuries. You can use them for short-term savings goals and diversifying your cash holdings. We offer both taxable and tax-exempt money market funds.

  • $3,000 minimum investment each.

  • SIPC insured up to $500,000.3
  • Money with Vanguard money market funds.

View Vanguard money market funds

Take a deeper dive into money market funds

FDIC (Federal Deposit Insurance Corporation)

Visit the FDIC's website to learn more.

SIPC (Securities Investor Protection Corporation)

Money market funds and other securities held in the Vanguard Brokerage Account are eligible for SIPC coverage. Securities in your brokerage account are protected up to $500,000. To learn more, visit the SIPC's website.

#1 in DIY investor satisfaction for the 4th time by J.D. Power

Ranked highest and named "Most Trusted" in the J.D. Power 2025 U.S. Investor Satisfaction Study. Vanguard has won this award 4 out of 5 years.

For J.D. Power 2025 award information, visit jdpower.com/awards . View methodology

Award methodology

The J.D. Power 2025 U.S. Investor Satisfaction Study surveyed approximately 4,000 self-directed investors. Vanguard previously secured the number 1 ranking in 2021, 2022, and 2023, and the number 2 ranking in 2024. The survey was fielded between January and December 2024 and measured satisfaction in 7 key dimensions on a 1,000-point scale: product and service offerings meet investor needs, resolving problems or complaints, ease in doing business with the firm, digital channels, people, value for fees paid, and level of trust with the firm.

For J.D. Power 2025 award information, visit jdpower.com/awards . Use of study results in promotional materials is subject to a license fee; no compensation was provided for award consideration.
Vanguard V
Tim T.

When I saw the Vanguard Cash Plus Account option, I was astounded by the amount of interest that it pays given its flexibility. Wow!”

The experience of this Vanguard client may not be representative of the experience of other Vanguard clients and is not a guarantee of future investment performance or success. The Cash Plus sweep program annual percentage yield will vary and may change at any time.

How to open a Vanguard Cash Plus Account

If you're a client, we'll prefill some of your information, but you may need to provide additional details, including:

  • Bank information.
  • Account objectives.
  • Employment status.
  • Personal information for any joint account owners.

Rethink the way you save

Open a Cash Plus Account

FAQs

No, the Vanguard Cash Plus Account is here to stay as an important part of our portfolio of offerings. We'll continue to expand the account's transfer capabilities and add more features.

We're offering money market funds alongside our all-cash bank sweep so you can choose from a variety of short-term investments if you want to diversify your cash holdings.

While there are no issued checks or ATM cards, we'll provide you with routing and account numbers so you can pay bills, set up direct deposit with your employer, and more. Bill payments can only be made from the available balance in the bank sweep.

The APY is based on current market conditions. It can move up or down depending on a variety of factors, including the Federal Reserve raising or lowering interest rates. We're committed to offering you value on the cash in your Cash Plus Account.

We’d like to offer competitive products that help you meet your goals. Vanguard isn't a bank, and certain products—like those offering FDIC insurance—are only available through banks. In the Vanguard tradition of passing on value to our clients, we've committed to using this new offer to provide you with a competitive APY. Please note that our money market fund options have market yields rather than offer an APY like the Cash Plus bank sweep.

No. The settlement fund in your Vanguard Brokerage Account holds money for making trades. It can be a good place for cash you're waiting to invest, since money moves out of the settlement fund to cover investment purchases.

The Vanguard Cash Plus Account is different. It's designed as an alternative to your savings account—a place where you hold money you're intentionally saving.

You can make an unlimited number of transactions.

Please note: Transfers into your Vanguard Cash Plus Account are subject to a $100,000 daily limit when initiated through Vanguard's website or app. This can be avoided by initiating a transfer out from your bank's website or app. Transfers out of your Vanguard Cash Plus Account are not subject to a maximum daily limit.