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Some brokerage sweep accounts are paying more than 4% on uninvested cash—is this a good place for your savings?

Por: MarketWatch Business May 14, 2023

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Many brokerages keep uninvested cash in “sweep accounts” that automatically transfer, or “sweep,” the cash into interest-earning accounts at banks they work with. Today, some brokerage accounts pay more than 4% per year in interest on uninvested cash. With that in mind, some investors might be wondering if it’s a good idea to keep their savings in their brokerage’s sweep account.What is the interest rate in a sweep account? From the... + full article



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