For more information about Vanguard funds or ETFs, obtain a Vanguard mutual fund or Vanguard ETF prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.
The Fund is only available to retail investors (natural persons). You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including times of market stress.
The Fund is only available to retail investors (natural persons). You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
Call 888-885-2306 for questions about the Vanguard Cash Plus Account. We're available Monday through Friday from 8 a.m. to 8 p.m., Eastern time.
Savings accounts may have characteristics that differentiate them from bank sweep programs offered by Vanguard Cash Plus. For example, they may offer overdraft protection, ATM access (immediate access to your money), and other convenience features. Each company's products differ, so it's important to ask questions to understand account features.
There may be other material differences between products that must be considered prior to investing.
All investing is subject to risk, including the possible loss of the money you invest.
The Vanguard Cash Plus Account is a brokerage account offered by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC. Under the Sweep Program, Eligible Balances swept to Program Banks are not securities: they are not covered by SIPC, but are eligible for FDIC insurance, subject to applicable limits. Money market funds held in the account are not guaranteed or insured by the FDIC, but are securities eligible for SIPC coverage. See the Vanguard Bank Sweep Products Terms of Use (PDF) and Program Bank list (PDF) for more information.
FAQs
The Vanguard Cash Plus Account is a cash management account that features a bank sweep insured by the Federal Deposit Insurance Company (FDIC) and offers a competitive yield on your short-term savings. You can use the bank sweep as a low-risk place to keep cash for your immediate needs as well as for emergencies.
How do I qualify for Vanguard Cash Plus account? ›
Account Eligibility.
To be eligible to participate in the Cash Plus Account Pilot, You or a joint owner must be an account holder on a VBA. One or more of the Cash Plus Account holders are also required to maintain at least one VBA for as long as the Cash Plus Account is open.
Is there a penalty for withdrawal from Vanguard Cash Plus? ›
Vanguard Cash Plus Account
Allows you to access your money without penalty whenever you need it. You can connect the Cash Plus bank sweep to payment apps like PayPal or Venmo.
Is Vanguard cash deposit a good idea? ›
If you're looking to earn a competitive interest rate on your uninvested cash, and you prefer FDIC protection, the new Vanguard Cash Deposit is a solid option. You need to have a Vanguard brokerage account to be eligible.
What is the interest rate for Vanguard Cash Plus account? ›
High interest rate. With a rate of 4.70% APY, the Vanguard Cash Plus Account rivals the rates found on many high-yield savings accounts. No minimum balance requirement. The account doesn't require customers to maintain a minimum balance to keep the account open.
What is the interest rate on a Vanguard Cash Plus account? ›
Previously, Vanguard offered the cash account only to investors who had a brokerage or retirement account with the company. Cash Plus Account had a 4.70% annual percentage yield as of August 2023, the most recent month available, according to Vanguard.
How does a cash plus account work? ›
How does Cashplus work? Cashplus works the same as a high-street bank. You can open a personal current account that comes with all the features you'd expect from a traditional bank. However, you'll have to pay to open a personal account with Cashplus and there are three different payment options available.
How do I withdraw money from my Vanguard cash account? ›
Step-by-step to withdrawing money out of your Vanguard Cash Account
- Log in and navigate to 'Cash' ...
- Select 'Withdraw' ...
- Choose the amount you want to withdraw. ...
- Review and confirm your withdrawal. ...
- Wait for funds to be transferred to your linked bank account.
How to make a payment
- Once you've logged in Online Banking, click 'Payments and Transfers'
- Select 'Make a Payment'
- If you have paid this person before, use the dropdown menu to select the payee (If it's a new payee, see our 'How to set up a payee' guide below)
- Enter the amount of the payment.
And because FDIC insures up to $250,000 per account, per depositor, Vanguard makes sure to never sweep more than that amount to one particular bank. Rather, it spreads the funds out, ensuring the funds are FDIC insured for up to $1.25 million for individual accounts and $2.5 million for joint accounts.
When the market cratered, investors withdrew $16.4 billion from Vanguard's index mutual funds. What accounts for remaining index mutual fund outflows? Johnson says it could be clients pulling out money because they're retiring, or because they're negatively affected by the pandemic.
Why can't I withdraw all money from Vanguard? ›
If there's a pending fee in any of your Vanguard accounts, this could prevent the withdrawal from being sent. Or if you change your nominated bank account after submitting a withdrawal. You can also choose to withdraw when you sell your holdings if you have a nominated and verified bank account.
What bank does Vanguard use? ›
Initially, Vanguard partnered with two banks to run its cash accounts. Its roster has now expanded to four: Valley National Bank in Wayne, N.J.; NexBank in Dalla; Synovus Bank in Columbus, Ga. and Bank of Baroda in Vadodara, India, according to a company document seen by RIABiz.
How long does it take for Vanguard cash to settle? ›
When you sell funds, you'll need to wait for the trade to settle before you can withdraw the cash. This normally happens 2 to 4 working days after submitting your instruction.
Is Vanguard money market better than savings account? ›
Money market funds generally have much higher yields than bank savings accounts. But savings accounts may have features like overdraft protection, ATM access, or other ways to immediately access your money.
What is a cash plus fund? ›
Cash plus fund is a type of fund, commonly found in Australia, which is formulated for conservative investors seeking preservation of capital and reasonable investment returns. Cash plus funds are designed for investors with a shorter-term investment horizon.
What is cash plus investment? ›
Cash Plus is a trading account that allows you to trade in global markets at low brokerage rates. This Account also has a stand-by margin facility of S$50,000 if you choose to increase your purchasing power by leveraging on your cash and/or investment products in your Account.
