You are responsible for monitoring the total assets you hold at each Program Bank for FDIC coverage and limitations (PDF). See the Vanguard Bank Sweep Products Terms of Use (PDF) for more information. Eligible Balances swept to Program Banks are the obligations of each Program Bank and are not cash balances held by VBS. Eligible Balances that are swept to Program Banks are not securities: They are not covered by the Securities Investor Protection Corporation (SIPC) but are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC).
MONEY MAGAZINE 5 BEST INVESTMENT NEWSLETTERS PLUS
Under the Vanguard Cash Plus program, Eligible Balances are swept to Program Banks. The Vanguard Cash Plus Account is a brokerage account offered by Vanguard Brokerage Services (VBS), a division of Vanguard Marketing Corporation, member FINRA and SIPC. There may be other material differences between products that must be considered prior to investing. Each company's products differ, so it's important to ask questions to understand account features. For example, they may offer overdraft protection, ATM access (immediate access to your money), and other convenience features. Savings accounts may have characteristics that differentiate them from bank sweep programs offered by Vanguard Cash Plus. You should consider all material differences before choosing to invest.Īll investing is subject to risk, including the possible loss of the money you invest. See the Vanguard Brokerage Account Agreement (PDF) for more information.īank deposits and CDs are guaranteed (within limits) as to principal and interest by an agency of the federal government.īank accounts can offer more liquidity, ATM access, and overdraft protection. These assets are not insured by the FDIC, but are securities eligible for SIPC coverage. View fund performanceĪssets swept to the Vanguard Federal Money Market Fund are held by VBS, a division of Vanguard Marketing Corporation, member FINRA and SIPC. The competitive performance data shown represent past performance, which is not a guarantee of future results.
Source: Lipper, a Thomson Reuters Company. Only mutual funds and ETFs (exchange-traded funds) with a minimum 10-year history were included in the comparison. Results will vary for other time periods. **For the 10-year period ended December 31, 2022, 7 of 7 Vanguard money market funds outperformed their Lipper peer-group averages. You are solely responsible for monitoring the aggregate amount that you have on deposit at each Program Bank in connection with FDIC limits, including through other accounts at VBS. FDIC coverage may be decreased based on Program Bank limits and whether you've opted-out of any Program Banks and is subject to applicable FDIC coverage limits. VBS will aggregate and allocate Bank Sweep deposits for trust accounts at the account level and not at the beneficiary level. Vanguard Brokerage Services (VBS) will aggregate and allocate Bank Sweep deposits to Program Banks across Vanguard Cash Plus and Vanguard Brokerage Accounts with like-registrations to offer maximum FDIC coverage up to $1.25 million for individual accounts and $2.5 million for joint accounts when at least 5 program banks are utilized. Bank Sweep deposits are covered by FDIC insurance up to $250,000 per insurable category of ownership at each Program Bank, when aggregated with all other deposits held by you at such bank and in the same insurable category. See the list of participating Program Banks (PDF). *Bank Sweep program balances are held at one or more Program Banks, earn a variable rate of interest, and are not covered by SIPC. Securities in your brokerage account are protected up to $500,000.Įligible for FDIC coverage up to $1.25 million for individual accounts and $2.5 million for joint accounts.* Money market funds and other securities held in the Vanguard Brokerage Account are eligible for SIPC coverage.
You can connect the Cash Plus Account to payment apps like PayPal or Venmo. Prices may fluctuate.Īllows you to access your money without penalty whenever you need it. If you need the money before maturity, you can sell the CD in the secondary market. Most funds allow you to access your money without penalty whenever you need it. There may be low fees for certain types of transactions. See Vanguard Brokerage commission schedule for other applicable fees Secondary trades: $1 per $1,000 face amount ($250 maximum)Īll online sales of CDs before they mature are commission-free. A savings account alternative with its own unique account and routing number.Ī new option for your settlement fund for the cash you're waiting to invest.Įach money market fund has its own expense ratio.
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