6 Top Cash Management Accounts- 2021

Cash management accounts are cash accounts that are offered by brokerages or other non bank financial service providers. These  accounts combine features that are usually found with checking and  savings accounts. These hybrid accounts are all in one products and due to low overhead of online-only services, most cash management accounts offer a high APY interest rate and low or no fees.

Because these financial firms that  are offering cash management accounts aren’t banks, they transfer the money into bank partner  accounts overnight. The banks that this money is transferred too is FDIC Insured, which means that your money is protected in case the investment firm goes under.

These up and coming brokerage  savings account, offer an alternative to the traditional savings accounts that we are used to. If you are looking for an account with above average interest rates and great account features, be sure to keep on reading. Here is a list of our Top Cash Management Accounts.

Best Cash Management Accounts

1. Betterment Everyday^TM Cash Reserve Account

Betterment is the largest independent online investment advisor, and their mission is to help you make the most of your money. The more you deposit into any investment account, the longer they will waive your management fee.

No matter your age or situation, Betterment can help you build a plan for life after work. They will help you determine how much to save and automatically invest your contributions.

Betterment Everyday Checking has no monthly maintenance fees, no overdraft fees, no minimum balance, and ATM fees are reimbursed. Investing and Retirement has an annual fee of 0.25% per year on your balance—or about $25 per year for every $10,000 invested.

• Direct Link: Betterment Everyday^TM Cash Reserve Account
• Rate Offer: 1.85% APY Rate
• Availability: Nationwide (Branch Locator)
• Expiration: None
• Opening Deposit Requirement: None
• Direct Deposit Requirement: None
• Monthly Service Fee: None

Read our Betterment Everyday Cash Reserve account review for more information.

2. Wealthfront Cash Account

Stashing cash until you’re ready to invest, building a rainy day fund, or saving for a big expense? Grow your money with a Wealthfront high-interest cash account.

Traditional financial institutions offer between 0.01% and 0.10% on checking and savings accounts, however, with the Wealthfront cash account, you can earn 18x the national average. Also, with Wealthfront’s free planning experience, you’ll get personalized guidance on how much cash you need and where you should put it in order to reach your short-term goals.

Take advantage of an attractive 1.82% APY with a new Wealthfront Cash Account when you sign up with your funds today.

• Direct Link: Wealthfront Cash Account
• Rate Offer: 1.82% APY Rate
• Availability: Nationwide
• Expiration: None
• Opening Deposit Requirement: $1
• Direct Deposit Requirement: None
• Monthly Service Fee: None

Read our Wealthfront Cash account review for more information.

3. SoFi Money Account

Sign up for SoFi Money®, a cash management account that earns you 1.60% APY on all your cash and has no account fees. You can also get $50 when you fund your account with at least $100

SoFi Money holders get access to exclusive member benefits like events and experiences, financial planning, career services, member rate discounts on additional SoFi loans, and more—all at no cost.

• Direct Link: SoFi Money Account
• Rate Offer: 1.60% APY Rate
• Availability: Nationwide (Branch Locator)
• Expiration: None
• Opening Deposit Requirement: $100
• Direct Deposit Requirement: None
• Monthly Service Fee: None

Read our SoFi Money account review for more information.

4. Personal Capital Cash Account

Personal Capital is the smart way to track and manage your financial life. Get award-winning financial tools and personal attention from registered financial advisors for significantly less than traditional financial advisers.

With your Personal Capital dashboard, you can see all of your banking and investment accounts in one secure and convenient place. This includes tracking  your monthly  budget, planning for retirement, and keeping an eye on your investments.

At some point, every investor needs access to their cash. Whether it’s an emergency fund, or a temporary place to put it, it helps to have a secure and easy place to keep your money. That’s why Personal Capital created a high-yield cash account.

• Direct Link: Personal Capital Cash Account
• Rate Offer: 1.55% APY Rate
• Availability: Nationwide
• Expiration: None
• Opening Deposit Requirement: $1
• Direct Deposit Requirement: None
• Monthly Service Fee: None

Read our Personal Capital Cash account review for more information.

5. Aspiration Spend & Save Account

The Aspiration Spend & Save Account is a cash management account offering up to 1.00% APY interest, 5 free ATM withdrawals each month, and your own personal People/Planet impact score.

With the Spend & Save account you will earn cash back rewards on every dollar you spend with your Aspiration debit card – and extra rewards for spending at businesses with a conscience.

In addition, Aspiration bank allows you to choose your monthly fees and Aspiration then donates ten cents of every dollar to charities helping spread economic opportunity to Americans working hard for a better life. The remainder of that fee goes to Aspiration. So you could technically pay $0 if you wanted too.

• Direct Link: Aspiration Spend & Save Account
• Rate Offer: 1.85% APY Rate
• Availability: Nationwide
• Expiration: None
• Opening Deposit Requirement: $10+
• Direct Deposit Requirement: None
• Monthly Service Fee: None

Read our Aspiration Spend & Save account review for more information.

6. Fidelity Cash Management Account

Fidelity Cash Management Solutions provides an alternative for individuals seeking FDIC insurance and gives you the power to manage your cash and spending alongside your investments.

This convenient way to save, spend, and manage your cash has the features of a traditional checking account, without a bank. This includes no account fees, no minimum balance requirements, and convenient mobile check deposit.

If you’re looking for a free cash account that earns a little interest, definitely check out this Fidelity brokerage account.

• Direct Link: Fidelity Cash Management Account
• Rate Offer: 0.82% APY Rate
• Availability: Nationwide
• Expiration: None
• Opening Deposit Requirement: None
• Direct Deposit Requirement: None
• Monthly Service Fee: None

Author’s Verdict

On BankDealGuy, we’ve compiled the best top cash management accounts for your convenience. If you are interested in checking accounts, visit our list of bank promotions to possibly get a sign-up bonus along with your account. You may also want to check out savings accounts if you want to get started on saving up money.