This might be a response to the Vanguard Cash Plus program that uses a number of banks to provide FDIC coverage up to $1.25 million.
https://investor.vanguard.com/accounts- ... us-account
Regards,
And wasn't there (or perhaps still is) an outside program that will take one's holdings (>$250k) and put them into separate banks so that the total FDIC coverage was multiples of $250k?
Good point!0.05% APY!
Didn't it recently used to be a gawd-awful 0.45%?
I guess they've nonupled down (9 times worse) on their awful cash yield.
Across 6 accounts I have 6 cents total in Schwab Bank sweep and feel a little negligent about that much.
I haven't looked at the interest rate for ages, as we use MM funds at Schwab, and also don't keep much there in the first place.
But to be fair ... IS the interest rate for this program also so measly?
RM
Statistics: Posted by ResearchMed — Fri Dec 20, 2024 12:57 pm — Replies 3 — Views 204