A high-yield cash sweep investment account is a type of savings account or investment product that offers a higher interest rate than traditional savings accounts. These accounts offer a balance of yield and liquidity, making them a popular choice for those who want to earn a return on their cash while still having quick access to it.
The high-yield cash sweep investment account is designed to be highly liquid, meaning that you can access your funds quickly and easily without incurring penalties or fees. Unlike certificates of deposit (CDs), which require you to keep your money in the account for a fixed period of time, these accounts allow you to withdraw your funds at any time without penalty.
Moreover, a cash sweep investment account is one of the most secure investment products in the market, designed to comply with FDIC*regulations. In the event that a cash sweep network member bank has failed, all claims for deposit insurance were paid by the FDIC. The funds in your account are FDIC Insured up to $250,000. Deposits are held at Piermont Bank, Member FDIC.