Available to residents nationwide, this Wealthfront Cash account is offering an amazing 4.30% APY Rate.
Continue reading below to learn everything you need to know about Wealthfront Cash account.
Editor’s Note: Wealthfront increased FDIC coverage for individual accounts to up to $3 million and for joint accounts up to $6 million.
About Wealthfront Cash Account
Wealthfront is a offers financial service in the palm of your hands. Their main platform is through the mobile application.
Being an online account, they can offer high quality services. They offer financial expertise like no other, and help create your path to a great financial future.
I’ll review Wealthfront Cash below.
|Balance Requirement||APY Rate|
Wealthfront Cash Account Rate
To earn Wealthfront’s competitive rate, simply have an opening deposit of $1. That’s all it takes and you’ll get to enjoy earning the high rate on all balances.
- Account Type: Cash Account
- Interest Rate: 4.30% APY
- Availability: Nationwide
- Minimum Balance: $1
- Maximum Balance: $1,000,000
- Credit Inquiry: Soft pull
- Opening Deposit: $1
- Monthly Fee: None
- Early Termination Fee: None listed, check with CSR
Wealthfront ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with Wealthfront’s ACH capabilities.
How to Earn Wealthfront Rate
- Open a Cash Account from Wealthfront with minimum deposit of $1.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- You can now earn a high interest rate APY on any account balance.
Why You Should Sign Up For This Account
- Receive high earnings without paying back in monthly fees
- Funding accounts is made easy via bank transfers, mobile deposit, wire transfer or check
- All deposits are FDIC insured to the maximum amount allowed by the law
Check out Wealthfront and open a Cash account this amazing rate! The fact that you can earn a high rate on any balance makes this Savings Account all worthwhile. Let us know about your experience with this bank and comment below.
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Joe Bios says
Wealthfront Cash Account reviewers seem to be unaware of restrictions WF imposes on “new accounts” when transferring funds between external banks. This is not surprising since WF doesn’t seem very forthcoming on these restrictions.
While WF Cash prominently advertises unlimited ACH withdrawals as one of its cash account features, when actually used, Wealthfront only permits ACH-Push withdrawals to the external account which originally funded the WF account. Withdrawals to other linked external accounts are “rewritten” by WF to direct withdrawals to the external account which funded the WF Cash account.
This essentially turns the WF Cash account into a no-penalty CD account rather than a useful financial management tool.
WF was vague as to how long these “new account” restrictions would remain in-effect for but cited timeframes in terms of “months”.