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Wealthfront Cash Account review

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A no-fee savings account with a 1.82% APY.’s rating: 4.6 / 5.0


Issued by the same robo-advisor that’s helping millennials invest for the future, the Wealthfront Cash Account helps you grow your uninvested savings. It pays one of the highest APYs available on savings accounts right now and its low fees allow you to hang on to more of your money.






Minimum deposit to open


Minimum deposit to open$1
Minimum balance to earn interest$1
Interest compoundingDaily
More Info

Expert review

Peter Carleton

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The Wealthfront Cash Account is a high-interest savings account that encourages you to save your uninvested cash. It offers a higher APY than most other savings accounts available and allows you to make as many withdrawals as you’d like.

However, it doesn’t offer branch or ATM access. And despite also having investment account options, it’s not currently possible to transfer between Wealthfront accounts.

What are the benefits of the Wealthfront Cash Account?

Designed to help Wealthfront customers save their uninvested cash, this account comes with a handful of useful benefits:

  • Earn interest. This account pays 1.82% APY — higher than most other savings accounts available right now.
  • No fees. The Wealthfront Cash Account doesn’t have any service charges, balance requirements, advisory fees or other hidden costs.
  • Low minimum deposit. Start saving with as little as $1.
  • Security. Your money is protected by up to $1 million in FDIC-insurance, four times the amount covered by traditional banks.
  • Easy transfers. Make unlimited free transfers in and out of this account.
  • Free financial tools. Explore Wealthfront’s Learning Center and financial tools to better plan for the future.

What should I look out for?

The Wealthfront Cash Account stands out for a number of reasons, but every product has its drawbacks. Here’s what to look out for:

  • No internal transfers. At the moment, you won’t be able to make transfers between Wealthfront Cash and Wealthfront Investment accounts.
  • Limited access. While you can easily make transfers to and from other bank accounts, you won’t be able to visit an ATM or branch to access your money.
  • Lack of other products. Wealthfront offers a savings account, investment accounts, free financial planning and a portfolio line of credit, but if you’re looking for a checking account, home loan or other financial products, you’ll need to look elsewhere.

If you’re looking to keep all of your finances in one place, or you just want easier access to your funds, you can compare your other options to find a product that’s right for you.

Compare with other savings accounts

Name Product Interest rate (APY) Fee Minimum deposit to open
Barclays Online Savings
Earn 20x the national savings account average with no fees or minimums.
American Express® Personal Savings High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
CIT Bank Savings Builder High Yield Savings Account
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
BBVA Money Market
$15 per month
(can be waived)
Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
UFB Direct High Yield Savings
Earn a competitive rate with a balance higher than $10,000.
Radius Bank High-Yield Savings
A free high-interest savings account with a $100 minimum deposit to open

Compare up to 4 providers

How do I apply?

Wealthfront doesn’t have any physical branches, but you can easily open this account online:

  1. Visit the Wealthfront website and click Save.
  2. Click Get Started.
  3. Click Open a Wealthfront account, then Get started, then Continue.
  4. Select High-interest cash savings, then click Continue.
  5. Enter your personal information, then click Continue.
  6. Enter your mobile number, then verify the code that you receive.
  7. Fill in the rest of your personal information and proceed to the next step.
  8. Enter your bank account information to fund your account, then submit your application.


To open this account, you’ll need to meet a few eligibility requirements:

  • US-based phone number that can receive texts
  • Permanent US address
  • Currently reside in the US
  • Valid Social Security number
  • Initial deposit of at least $1

Required information

During your application, you’ll be asked for the following information:

  • Name, email and phone number
  • Date of birth
  • US address
  • Government-issued ID
  • Social Security number

How do I deposit or withdraw money?

While Wealthfront doesn’t have any physical branches, you can still access your money when you need it. Plus, since it’s not a bank, it’s not subject to the six monthly withdrawals limit:


  • Online transfer
  • Wire transfer

  • Online transfer
  • Wire transfer

How can I get in touch with customer service?

  • By email: Navigate to the Wealthfront website and click on the Contact Us page
  • By phone: Call 844-995-8437 to reach Wealthfront‘s team of licensed professionals Monday through Friday from 8 a.m. to 5 p.m. PT

What other investing options does Wealthfront offer?

Aside from the Cash Account, Wealthfront offers an automated investment portfolio called Wealthfront PassivePlus. It’s designed for millennials and helps to create an automated investment plan around your financial situation and future goals.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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