Best Cash Management Accounts [2025]: Earn More on Your Idle Money

Stop letting your brokerage cash earn next to nothing.

Whether you trade, save, or invest, a high-yield cash management account (CMA) from a trusted online brokerage offers FDIC‑insured access, easy transfers, and interest rates far above the national average.

These Smile Money Picks help you earn meaningful returns on idle cash without sacrificing liquidity or flexibility.

Quick Summary: Top Cash Management Accounts of 2025

Our Smile Money Picks Methodology

We reviewed top brokerage-linked cash accounts based on:

• Annual Percentage Yield (APY) on uninvested cash
• Fees and balance requirements
• Liquidity and withdrawal access
• Insurance coverage (FDIC or SIPC)
• Ease of access, mobile, and account integration

Our selections prioritize smart returns on idle cash—with no guesswork or hidden conditions.

In-Depth Reviews of Our Picks

1. M1 High-Yield Cash Account – Best APY & FDIC Coverage

M1 Finance offers up to 5.0% APY on cash through partner banks—FDIC insured up to $3.75M per account—and only requires a $100 minimum to qualify.

• Why It Stands Out: Best-in-class APYs and serious FDIC coverage in one simple tool tied to your M1 investment account.
• My Smile Money Take: Ideal if you want access to cash that works as hard as your investments.

Learn more about M1.

2. Wealthfront Cash Account – Best Promo Boost APY

Wealthfront offers 4.0% APY, with a temporary boost to 4.5% APY for new customers—FDIC-insured up to $8 million—no fees or minimums.

• Why It Stands Out: Strong base rate and a generous new customer promotion.
• My Smile Money Take: Use it as a smart parking spot for extra cash waiting to be invested.

Learn more about Wealthfront.

3. Betterment Cash Reserve – Great Combo with Robo-Investing

Betterment currently offers 4.0% APY, with a limited-time 4.5% promo for new users who fund quickly. FDIC insured up to $2M.

• Why It Stands Out: Seamlessly integrates interest-earning cash with automated portfolios.
• My Smile Money Take: Best for users who want an all-in-one investment and cash solution.

Learn more about Betterment.

4. Webull Cash Management – High APY for Premium Users

Webull offers up to 4.10% APY via Premium membership; otherwise, 3.75% APY for accounts over $25K, or 0.50%.

• Why It Stands Out: Excellent APY for active traders, though you’ll need to qualify or subscribe.
• My Smile Money Take: Valued if you’re already trading on Webull and want better returns on your cash.

Learn more about Webull.

5. Robinhood Gold Cash Sweep – Best for Bonus Perks

Robinhood Gold subscribers earn 4.0% APY on uninvested brokerage cash via sweep programs. No account minimum.

• Why It Stands Out: A smart perk for IRA bonuses and direct-deposit cash rewards.
• My Smile Money Take: Worth it if you’re already banking with Robinhood or using it for investing.

Learn more about Robinhood.

6. SoFi Checking & Savings (Vaults) – Best for Everyday Banking with Yield

With eligible direct deposit or $5,000 monthly deposits, SoFi members can earn 3.80% APY on savings and vault balances. Checking earns 0.50%. FDIC-insured.

• Why It Stands Out: Combines everyday banking and cash-yielding flexibility.
• My Smile Money Take: Best for people wanting to bank and invest in one seamless app.

Learn more about SoFi.

7. Fidelity Cash Management Account – Best for Brokerage Integration

Fidelity sweeps excess cash into SPAXX money market fund, offering ~3.9–4.0% APY, no account fees, free checks, and debit card access. FDIC and SIPC protection.

• Why It Stands Out: Trusted firm with solid integration for broader investment needs.
• My Smile Money Take: Solid choice if your other accounts and retirement all live at Fidelity.

Learn more about Fidelity.

Honorable Mentions

• TastyTrade Cash Account – Competitive APY with direct integration into a trading platform
• Interactive Brokers Sweep – Offers professional sweep options and multi-currency access
• Charles Schwab Investor Checking – Integrated with Schwab brokerage; ATM access globally
• Empower Personal Cash – Combines portfolio building and checking-like functions with ~4.2% APY

How Cash Management Accounts Work

Cash Management Accounts blend features of checking, savings, and brokerage:

• Uninvested cash is swept into FDIC-insured program banks
• Your cash earns interest (variable APY)
• Many offer debit cards, check-writing, and bill pay
• Available through brokerages—but often SIPC-insured or via sweep structures

This makes them smarter parking spaces for cash waiting to be invested or used—earning returns in the meantime.

How to Choose the Right Cash Management Account

Consider these when choosing your CMA:

• Interest Rate (APY) – The higher, the better for idle cash
• Account Fees or Minimums – Aim for $0 fees and low deposit requirements
• Liquidity & Access – How quickly can you access funds?
• Insurance Coverage – Look for high FDIC-level limits or SIPC protection
• Integration – Compatible with your existing brokerage or budget tools

FAQs About CMAs from Brokerages