Brokerage Cash Sweep Index · Last reviewed October 11, 2026

What Brokerages Actually Pay on Cash You Haven’t Invested Yet

Name: SwitchWize Brokerage Cash Sweep Index
Creator: SwitchWize
License: https://www.switchwize.com/terms

Across 8 major brokerages with a verifiable default cash-sweep rate, the median is 0.03% — versus a 3.72% median rate on the money-market funds those same brokerages offer as a sweep alternative, within the same account. SwitchWize calls this gap the Brokerage Cash Sweep Index.

Download data Methodology For press & institutions

Last updated

October 9, 2026

Refresh cadence

Daily, automated

In the comparison

11 brokerages

Reference + pending

4 more

Median default sweep

0.03%

8 brokerages, lowest balance tier

Median money-market fund

3.72%

4 brokerages’ own funds, same account

$3,685/yr

the gap on a $100,000 balance

$36,850/yr

the gap on a $1,000,000 balance

brokerages tracked — 11 in the comparison, 3 reference-only, 1 not yet verifiable

1.96%

Fidelity pays the most among verified firms

The plain-English version

When cash sits in a brokerage account waiting to be invested — between trades, after a deposit, or just as a deliberate cash allocation — most firms automatically “sweep” it into a program that pays a default rate, usually far below what the very same brokerage pays on its own money-market-fund options. Switching is typically a few clicks inside the same account — no new account required. The gap isn’t hidden, exactly — it’s disclosed in each firm’s own rate sheet — but it isn’t prominently advertised either, and most investors never check.

A firm’s default cash vehicle is usually one of three things: a bank sweep (cash moves to an FDIC-insured deposit at a partner bank, paying whatever rate the firm sets); a money-market-fund sweep (cash sits in a fund like a government or treasury money-market fund, SIPC-covered rather than FDIC-insured, that typically tracks market rates far more closely); or a premium opt-in program some firms offer above a minimum balance. The gap this page tracks is between the first and second of those — the default most people are in, versus the switch most people never make.

Every figure below is a brokerage’s own published default sweep rate for a retail brokerage account at its lowest balance tier, pulled directly from that firm’s current rate-disclosure page or PDF — not estimated, not a rate-shopping average. Firms where SwitchWize could not independently verify a current rate are named below, not omitted.

What the gap is worth, at the index median

Estimated annual earnings at the median sweep rate versus the median money-market-fund rate, at a few sample balances. Simple interest, no compounding.

Default sweepMoney-market fund

$25k

$929

$921/yr

$50k

$15

$1,858

$1,843/yr

$100k

$30

$3,715

$3,685/yr

$250k

$75

$9,288

$9,213/yr

$500k

$150

$18,575

$18,425/yr

$1000k

$300

$37,150

$36,850/yr

Estimated annual earnings by balance, Default sweep versus Money-market fund
Balance	Default sweep	Money-market fund	Gap per year
$25k	$8	$929	$921
$50k	$15	$1,858	$1,843
$100k	$30	$3,715	$3,685
$250k	$75	$9,288	$9,213
$500k	$150	$18,575	$18,425
$1000k	$300	$37,150	$36,850

Example only — your actual result depends on your firm, balance, and how long cash sits uninvested. Use the calculator further down the page for your own numbers.

Headline rate, by brokerage

Minimum (lowest balance tier) and maximum (largest balance tier) default rate at each firm included in the median. Click a row to expand its full tier breakdown right here.

Median of these 8 minimums: 0.03% — matches the index figure above. (Their simple average is 0.27%; SwitchWize uses the median because a high outlier would otherwise skew a plain average.)

RBC Wealth Management

0.01%

3.26%

RBC Insured Deposits

bank sweep · advisory · as of 2026-09-17

$5 million and above (household assets under $10 million)2.48%

$2 million – $4.99 million (household assets under $10 million)1.75%

$1 million – $1.99 million (household assets under $10 million)0.80%

$500,000 – $999,999 (household assets under $10 million)0.20%

$250,000 – $499,999 (household assets under $10 million)0.20%

$100,000 – $249,999 (household assets under $10 million)0.20%

$0 – $99,999 (household assets under $10 million)0.05%

$5 million and above (household assets under $10 million)2.48%

$2 million – $4.99 million (household assets under $10 million)1.31%

$1 million – $1.99 million (household assets under $10 million)0.20%

$500,000 – $999,999 (household assets under $10 million)0.01%

$250,000 – $499,999 (household assets under $10 million)0.01%

$100,000 – $249,999 (household assets under $10 million)0.01%

$0 – $99,999 (household assets under $10 million)0.01%

Showing tiers for "household assets under $10 million" only. 14 more rows apply under different terms (household assets over $10 million) — full breakdown in the downloadable dataset.

Merrill (Bank of America)

0.01%

3.35%

Merrill Lynch Bank Deposit Program

bank sweep · brokerage · as of 2026-10-08

Tier 1 (Less than $250,000)0.01%

Tier 2 ($250,000 - $999,999)0.01%

Tier 3 ($1,000,000 - $9,999,999)0.05%

Tier 4 ($10,000,000 and above)0.15%

Merrill Lynch Bank Deposit Program [footnote 1]

bank sweep · brokerage · as of 2026-10-08

Tier 53.35%

Retirement Asset Savings Program

bank sweep · brokerage · as of 2026-10-08

Tier 1 (Less than $250,000)0.01%

Tier 2 ($250,000 - $999,999)0.01%

Tier 3 ($1,000,000 - $9,999,999)0.05%

Tier 4 ($10,000,000 and above)0.15%

Retirement Asset Savings Program [footnote 1,2]

bank sweep · brokerage · as of 2026-10-08

Tier 53.35%

Merrill Lynch Direct Deposit Program

bank sweep · brokerage · as of 2026-10-08

n/a0.01%

Merrill Lynch Direct Deposit Program [footnote 2]

bank sweep · brokerage · as of 2026-10-08

Tier 63.35%

Insured Savings Account (ISA®) Program [footnote 3]

bank sweep · brokerage · as of 2026-10-08

n/a2.05%

BlackRock Liquidity Funds: FedFund --- Cash Reserve Class (BFRXX) -- Merrill Sweep Program

money fund sweep · brokerage · as of 2026-10-08

flat rate (RCMA/TMA eligible accounts only)3.37%

BlackRock Liquidity Funds: Treasury Trust --- Cash Reserve Class (BTFXX) -- Merrill Sweep Program

money fund sweep · brokerage · as of 2026-10-08

flat rate (RCMA/TMA eligible accounts only)3.38%

Merrill Preferred Deposit ($100,000 minimum initial deposit)

non sweep premium · brokerage · as of 2026-10-08

Less than $100,0003.15%

$100,000 - $999,9993.15%

$1,000,000 - $2,499,9993.15%

$2,500,000 - $4,999,9993.51%

$5,000,000 - $9,999,9993.61%

$10,000,000 - $24,999,9993.87%

$25,000,000 - $49,999,9993.87%

$50,000,000 - $99,999,9993.87%

$100,000,000 and above3.92%

UBS

0.03%

1.75%

UBS Deposit Sweep Program (Brokerage)

bank sweep · brokerage · as of 2026-10-08

$10,000,000 and above0.20%

$4,000,000 - $9,999,9990.10%

$2,000,000 - $3,999,9990.10%

$500,000 - $1,999,9990.10%

$250,000 - $499,9990.03%

Less than $250,0000.03%

UBS Deposit Sweep Program (Advisory)

bank sweep · advisory · as of 2026-10-08

$10,000,000 and above1.75%

$4,000,000 - $9,999,9991.20%

$2,000,000 - $3,999,9990.90%

$500,000 - $1,999,9990.35%

$250,000 - $499,9990.10%

Less than $250,0000.10%

UBS Cash Reserve (Standard)

non sweep premium · brokerage · as of 2026-10-08

$10,000,000 and above3.90%

$4,000,000 - $9,999,9993.90%

$2,000,000 - $3,999,9993.90%

$500,000 - $1,999,9993.75%

$250,000 - $499,9993.40%

Less than $250,0003.40%

UBS Cash Reserve (Promotional)

non sweep premium · brokerage · as of 2026-10-08

$10,000,000 and above3.90%

$4,000,000 - $9,999,9993.90%

$2,000,000 - $3,999,9993.90%

$500,000 - $1,999,9993.90%

$250,000 - $499,9993.90%

Less than $250,0003.90%

UBS Money Market Fund Sweep Programs - UBS RMA Government Money Market Fund

money fund sweep · brokerage · as of 2026-10-08

n/a3.28%

UBS Money Market Fund Sweep Programs - UBS Liquid Assets Government Fund 1

money fund sweep · brokerage · as of 2026-10-08

n/a3.88%

Ameriprise Financial

0.03%

1.50%

AIMMA (Ameriprise Insured Money Market Account)

bank sweep · brokerage · as of 2026-10-13

$0 - $4,999.990.03%

$5,000 - $24,999.990.03%

$25,000 - $49,999.990.03%

$50,000 - $99,999.990.03%

$100,000 - $249,999.990.03%

$250,000 - $499,999.990.08%

$500,000 - $999,999.990.10%

$1,000,000 - 4,999,999.991.01%

$5,000,000 +1.50%

ABISA (Ameriprise Bank Insured Sweep Account)

bank sweep · brokerage · as of 2026-10-13

$0 - $4,999.990.03%

$5,000 - $24,999.990.03%

$25,000 - $49,999.990.03%

$50,000 - $99,999.990.03%

$100,000 - $249,999.990.03%

$250,000 - $499,999.990.08%

$500,000 - $999,999.990.10%

$1,000,000 - 4,999,999.991.01%

$5,000,000 +1.50%

Money Fund Sweep: BNY Dreyfus Government Cash Management - Wealth Shares

money fund sweep · brokerage · as of undated

all balancesneeds review3.50%

Money Fund Sweep: BNY Dreyfus Government Cash Management - Institutional Shares

money fund sweep · brokerage · as of undated

all balancesneeds review3.75%

Ameriprise Cash

free credit balance · brokerage · as of 2026-10-13

All Balances0.03%

Edward Jones

0.10%

1.65%

Insured Bank Deposit

bank sweep · brokerage · as of 2026-05-21

Tier 1: Less than $250,0000.10%

Tier 2: $250,000–$499,999.990.35%

Tier 3: $500,000–$999,999.990.55%

Tier 4: $1,000,000–$2,499,999.991.00%

Tier 5: $2,500,000–$4,999,999.991.20%

Tier 6: $5,000,000–$9,999,999.991.35%

Tier 7: $10,000,000 and above1.65%

Interest on Uninvested Cash Balances (Retirement)

free credit balance · brokerage · as of undated

all balancesneeds review0.15%

Interest on Uninvested Cash Balances (Non-Retirement)

free credit balance · brokerage · as of undated

all balancesneeds review0.15%

Edward Jones Money Market Fund (Investment Shares)

money fund sweep · brokerage · as of undated

all balancesneeds review3.22%

Edward Jones Money Market Fund (Retirement Shares)

money fund sweep · brokerage · as of undated

all balancesneeds review3.21%

Stifel

0.01%

0.30%

Stifel Insured Bank Deposit Program

bank sweep · brokerage · as of 2025-12-12

Tier 1: $0 to $99,9990.01%

Tier 2: $100,000 to $249,9990.01%

Tier 3: $250,000 to $499,9990.01%

Tier 4: $500,000 to $999,9990.01%

Tier 5: $1,000,000 to $1,999,9990.20%

Tier 6: $2,000,000 and greater0.30%

Enhanced Advisory Yield (EAY): amounts in excess of the account's 2% Maintenance Cash Percentageneeds review0.30%

Stifel Insured Bank Deposit Program (Retirement Accounts)

bank sweep · brokerage · as of 2025-12-12

Tier 1: $0 to $99,9990.01%

Tier 2: $100,000 to $249,9990.01%

Tier 3: $250,000 to $499,9990.01%

Tier 4: $500,000 to $999,9990.01%

Tier 5: $1,000,000 to $1,999,9990.20%

Tier 6: $2,000,000 and greater0.30%

Enhanced Advisory Yield (EAY): amounts in excess of the account's 2% Maintenance Cash Percentageneeds review0.30%

Fidelity

1.96%

Fidelity FDIC-Insured Deposit Sweep Program (FCMA -- Cash Management Account)

bank sweep · brokerage · as of 2026-10-08

$0.00 - $99,999.991.96%

$100,000.00 - AND ABOVE1.96%

Fidelity® Treasury Money Market Fund (FZFXX) -- Money Market Mutual Fund Overflow, Fidelity FDIC-Insured Deposit Sweep Program (FCMA -- Cash Management Account)

money fund sweep · brokerage · as of 2026-10-08

flat rate (overflow when FDIC program-bank capacity is exceeded)3.55%

Fidelity® Government Cash Reserves (FDRXX) -- Money Market Mutual Fund Overflow, Fidelity FDIC-Insured Deposit Sweep Program (FCMA -- Cash Management Account)

money fund sweep · brokerage · as of 2026-10-08

flat rate (overflow when FDIC program-bank capacity is exceeded)3.56%

Fidelity® Government Money Market Fund Class S (FZSXX) -- Money Market Mutual Fund Overflow, Fidelity FDIC-Insured Deposit Sweep Program (FCMA -- Cash Management Account)

money fund sweep · brokerage · as of 2026-10-08

flat rate (overflow when FDIC program-bank capacity is exceeded)3.49%

Fidelity® Government Money Market Fund (SPAXX) -- Money Market Mutual Fund Overflow, Fidelity FDIC-Insured Deposit Sweep Program (FCMA -- Cash Management Account)

money fund sweep · brokerage · as of 2026-10-08

flat rate (overflow when FDIC program-bank capacity is exceeded)3.49%

Fidelity FDIC-Insured Deposit Sweep Program (IRA)

bank sweep · brokerage · as of 2026-10-08

$0.00 - $99,999.991.96%

$100,000.00 - AND ABOVE1.96%

Fidelity® Government Cash Reserves (FDRXX) -- Money Market Mutual Fund Overflow, Fidelity FDIC-Insured Deposit Sweep Program (IRA)

money fund sweep · brokerage · as of 2026-10-08

flat rate (overflow when FDIC program-bank capacity is exceeded)3.56%

Fidelity FDIC-Insured Deposit Sweep Program (HSA)

bank sweep · brokerage · as of 2026-10-08

$0.00 - $4,999.991.96%

$5,000.00 - AND ABOVE1.96%

Fidelity® Government Cash Reserves (FDRXX) -- Money Market Mutual Fund Overflow, Fidelity FDIC-Insured Deposit Sweep Program (HSA)

money fund sweep · brokerage · as of 2026-10-08

flat rate (overflow when FDIC program-bank capacity is exceeded)3.56%

Fidelity FDIC-Insured Deposit Sweep Program (FCMA, with direct deposit -- promo rate)

bank sweep · brokerage · as of undated

with direct deposit (CMS-authored promo copy, not a dated tier row)needs review3.93%

HSA rates shown only. 5 additional rows cover 1 other currency and are excluded here — full list in the downloadable dataset.

LPL Financial

0.03%

3.25%

Insured Cash Account (ICA)

bank sweep · brokerage · as of 2026-10-02

Any Value < $5,0000.03%

$5,000 to < $25,0000.03%

$25,000 to < $50,0000.03%

$50,000 to < $100,0000.03%

$100,000 to < $250,0000.03%

$250,000 to < $500,0000.10%

$500,000 to < $1M0.40%

$1M to < $2M1.05%

$2M to < $5M1.30%

> $5M3.25%

Deposit Cash Account (DCA)

bank sweep · advisory · as of 2026-09-18

Any value > $0needs review0.30%

DCA rates shown only. 10 additional rows cover 1 other currency and are excluded here — full list in the downloadable dataset.

Excluded from the median above: Wells Fargo Advisors, Raymond James, Charles Schwab. See "Other tracked brokerages" below.

Where each firm’s minimum rate sits

A linear scale, on purpose — most firms cluster near zero, and that compression is itself part of the finding.

Median rate, by balance

The headline table above compares only the smallest balance tier. Brokerages don’t share tier boundaries, so this harmonizes them: at each balance, SwitchWize finds the tier each firm’s own ladder actually applies there, then takes the median across the same 8 brokerages backing the index above. Click a balance to see every firm’s rate at that amount.

Balance

Median rate

Firms

$10K

0.03%

RBC Wealth Management$0 – $99,999 (household assets under $10 million)0.01%

Merrill (Bank of America)Tier 1 (Less than $250,000)0.01%

StifelTier 1: $0 to $99,9990.01%

UBSLess than $250,0000.03%

Ameriprise Financial$5,000 - $24,999.990.03%

LPL Financial$5,000 to < $25,0000.03%

Edward JonesTier 1: Less than $250,0000.10%

Fidelity$0.00 - $99,999.991.96%

$50K

0.03%

RBC Wealth Management$0 – $99,999 (household assets under $10 million)0.01%

Merrill (Bank of America)Tier 1 (Less than $250,000)0.01%

StifelTier 1: $0 to $99,9990.01%

UBSLess than $250,0000.03%

Ameriprise Financial$50,000 - $99,999.990.03%

LPL Financial$25,000 to < $50,0000.03%

Edward JonesTier 1: Less than $250,0000.10%

Fidelity$0.00 - $99,999.991.96%

$100K

0.03%

RBC Wealth Management$100,000 – $249,999 (household assets under $10 million)0.01%

Merrill (Bank of America)Tier 1 (Less than $250,000)0.01%

StifelTier 2: $100,000 to $249,9990.01%

UBSLess than $250,0000.03%

Ameriprise Financial$100,000 - $249,999.990.03%

LPL Financial$50,000 to < $100,0000.03%

Edward JonesTier 1: Less than $250,0000.10%

Fidelity$100,000.00 - AND ABOVE1.96%

$250K

0.03%

RBC Wealth Management$250,000 – $499,999 (household assets under $10 million)0.01%

Merrill (Bank of America)Tier 1 (Less than $250,000)0.01%

StifelTier 3: $250,000 to $499,9990.01%

UBS$250,000 - $499,9990.03%

LPL Financial$100,000 to < $250,0000.03%

Ameriprise Financial$250,000 - $499,999.990.08%

Edward JonesTier 1: Less than $250,0000.10%

Fidelity$100,000.00 - AND ABOVE1.96%

$500K

0.10%

RBC Wealth Management$500,000 – $999,999 (household assets under $10 million)0.01%

Merrill (Bank of America)Tier 2 ($250,000 - $999,999)0.01%

StifelTier 4: $500,000 to $999,9990.01%

UBS$500,000 - $1,999,9990.10%

Ameriprise Financial$500,000 - $999,999.990.10%

LPL Financial$250,000 to < $500,0000.10%

Edward JonesTier 3: $500,000–$999,999.990.55%

Fidelity$100,000.00 - AND ABOVE1.96%

$1M

0.30%

Merrill (Bank of America)Tier 3 ($1,000,000 - $9,999,999)0.05%

UBS$500,000 - $1,999,9990.10%

RBC Wealth Management$1 million – $1.99 million (household assets under $10 million)0.20%

StifelTier 5: $1,000,000 to $1,999,9990.20%

LPL Financial$500,000 to < $1M0.40%

Edward JonesTier 4: $1,000,000–$2,499,999.991.00%

Ameriprise Financial$1,000,000 - 4,999,999.991.01%

Fidelity$100,000.00 - AND ABOVE1.96%

$5M

1.32%

Merrill (Bank of America)Tier 3 ($1,000,000 - $9,999,999)0.05%

UBS$4,000,000 - $9,999,9990.10%

StifelTier 6: $2,000,000 and greater0.30%

LPL Financial$2M to < $5M1.30%

Edward JonesTier 6: $5,000,000–$9,999,999.991.35%

Ameriprise Financial$5,000,000 +1.50%

Fidelity$100,000.00 - AND ABOVE1.96%

RBC Wealth Management$5 million and above (household assets under $10 million)2.48%

$10M

1.57%

Merrill (Bank of America)Tier 4 ($10,000,000 and above)0.15%

UBS$10,000,000 and above0.20%

StifelTier 6: $2,000,000 and greater0.30%

Ameriprise Financial$5,000,000 +1.50%

Edward JonesTier 7: $10,000,000 and above1.65%

Fidelity$100,000.00 - AND ABOVE1.96%

RBC Wealth Management$5 million and above (household assets under $10 million)2.48%

LPL Financial> $5M3.25%

How the gap has moved

Daily median default-sweep rate versus median money-market-fund rate, tracked automatically since August 26, 2026.

Estimate the gap for your balance

Pick your brokerage — or enter your own numbers — to see the gap between a default sweep and a money-market-fund alternative at your own balance.

Other tracked brokerages

Real bank-sweep data, excluded from the median above because the source itself flagged the rate needs-review or because the page format carries a genuine risk of not being kept current — shown for transparency, not omitted.

Wells Fargo Advisors0.02%

no genuine published effective_date available (site's 'as of' date is a client-side today-minus-1 placeholder, not real content metadata)

Bank Deposit Sweep Program

bank sweep · brokerage · as of undated

$0 - $999,9990.02%

$1,000,000 - $4,999,9990.05%

$5,000,000 - $9,999,9990.10%

$10,000,000 - $19,999,9990.15%

$20,000,000 and up0.20%

Money Market Fund Sweep - Allspring Government Money Market Fund - Sweep Class

money fund sweep · brokerage · as of undated

n/a3.43%

Money Market Fund Sweep - Goldman Sachs Financial Square Government Fund

money fund sweep · brokerage · as of undated

n/a3.80%

Raymond Jamesn/a

run_live() requires a full browser engine on a network whose IP reputation clears raymondjames.com's Akamai WAF -- a bare `requests` call and a local unmodified Playwright session from this repo's own dev sandbox are both blocked (403 / net::ERR_HTTP2_PROTOCOL_ERROR respectively). Confirmed reachable via a managed browser session on a different network 2026-09-01. Check the running network before assuming the extractor itself broke.

Charles Schwabn/a

run_live() requires a full browser engine on a network whose IP reputation clears schwab.com's SWAF/Akamai edge block -- a bare `requests` call to the same URL from this repo's own dev sandbox still returns the SWAF apology page. Confirmed reachable via a managed browser session on a different network 2026-09-01. Check the running network before assuming the extractor itself broke.

Tracked, no independently verified rate yet

Morgan Stanley — Data source (the multisweep XML endpoint) was identified and its schema fully reverse-engineered via Wayback-archived snapshots, but live access is blocked by Akamai bot-defense (confirmed from two independent networks on 2026-08-25) -- not attempted to route around, per this project's hard constraints.

Reference points, not apples-to-apples

Real, current data from firms whose default cash product isn’t a bank-sweep program at all — useful context, but not comparable to the rates above.

Interactive Brokersn/a

IBKR pays interest directly on the account's credit balance rather than sweeping cash to a partner bank -- there's no bank-sweep program here to place alongside the other firms' numbers. Real, current, and useful as its own reference point for how a direct-interest model compares to a bank sweep.

IBKR Pro Interest Paid on Instantly Available Cash Balances (USD)

free credit balance · brokerage · as of 2026-10-07

USD 0 ≤ 10,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (USD)

free credit balance · brokerage · as of 2026-10-07

USD 0 ≤ 10,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (USD)

free credit balance · brokerage · as of 2026-10-07

USD > 10,0003.38%

IBKR Lite Interest Paid on Instantly Available Cash Balances (USD)

free credit balance · brokerage · as of 2026-10-07

USD > 10,0002.38%

IBKR Pro Interest Paid on Instantly Available Cash Balances (AED)

free credit balance · brokerage · as of 2026-10-07

AED 0 ≤ 35,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (AED)

free credit balance · brokerage · as of 2026-10-07

AED 0 ≤ 35,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (AED)

free credit balance · brokerage · as of 2026-10-07

AED > 35,0003.26%

IBKR Lite Interest Paid on Instantly Available Cash Balances (AED)

free credit balance · brokerage · as of 2026-10-07

AED > 35,0002.26%

IBKR Pro Interest Paid on Instantly Available Cash Balances (AUD)

free credit balance · brokerage · as of 2026-10-07

AUD 0 ≤ 15,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (AUD)

free credit balance · brokerage · as of 2026-10-07

AUD 0 ≤ 15,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (AUD)

free credit balance · brokerage · as of 2026-10-07

AUD 15,000 ≤ 150,0004.07%

IBKR Lite Interest Paid on Instantly Available Cash Balances (AUD)

free credit balance · brokerage · as of 2026-10-07

AUD 15,000 ≤ 150,0003.07%

IBKR Pro Interest Paid on Instantly Available Cash Balances (AUD)

free credit balance · brokerage · as of 2026-10-07

AUD > 150,0004.32%

IBKR Lite Interest Paid on Instantly Available Cash Balances (AUD)

free credit balance · brokerage · as of 2026-10-07

AUD > 150,0003.07%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CAD)

free credit balance · brokerage · as of 2026-10-07

CAD 0 ≤ 13,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CAD)

free credit balance · brokerage · as of 2026-10-07

CAD 0 ≤ 13,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CAD)

free credit balance · brokerage · as of 2026-10-07

CAD > 13,0001.61%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CAD)

free credit balance · brokerage · as of 2026-10-07

CAD > 13,0000.61%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CHF)

free credit balance · brokerage · as of 2026-10-07

CHF 0 ≤ 100,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CHF)

free credit balance · brokerage · as of 2026-10-07

CHF 0 ≤ 100,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CHF)

free credit balance · brokerage · as of 2026-10-07

CHF > 100,000-0.44%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CHF)

free credit balance · brokerage · as of 2026-10-07

CHF > 100,000-1.44%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CNH)

free credit balance · brokerage · as of 2026-09-30

CNH 0 ≤ 70,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CNH)

free credit balance · brokerage · as of 2026-09-30

CNH 0 ≤ 70,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CNH)

free credit balance · brokerage · as of 2026-09-30

CNH > 70,0000.50%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CNH)

free credit balance · brokerage · as of 2026-09-30

CNH > 70,0000.50%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CZK)

free credit balance · brokerage · as of 2026-10-07

CZK 0 ≤ 250,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CZK)

free credit balance · brokerage · as of 2026-10-07

CZK 0 ≤ 250,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (CZK)

free credit balance · brokerage · as of 2026-10-07

CZK > 250,0001.55%

IBKR Lite Interest Paid on Instantly Available Cash Balances (CZK)

free credit balance · brokerage · as of 2026-10-07

CZK > 250,0000.55%

IBKR Pro Interest Paid on Instantly Available Cash Balances (DKK)

free credit balance · brokerage · as of 2026-10-07

DKK 0 ≤ 75,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (DKK)

free credit balance · brokerage · as of 2026-10-07

DKK 0 ≤ 75,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (DKK)

free credit balance · brokerage · as of 2026-10-07

DKK > 75,0001.52%

IBKR Lite Interest Paid on Instantly Available Cash Balances (DKK)

free credit balance · brokerage · as of 2026-10-07

DKK > 75,0000.53%

IBKR Pro Interest Paid on Instantly Available Cash Balances (EUR)

free credit balance · brokerage · as of 2026-10-07

EUR 0 ≤ 10,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (EUR)

free credit balance · brokerage · as of 2026-10-07

EUR 0 ≤ 10,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (EUR)

free credit balance · brokerage · as of 2026-10-07

EUR > 10,0001.98%

IBKR Lite Interest Paid on Instantly Available Cash Balances (EUR)

free credit balance · brokerage · as of 2026-10-07

EUR > 10,0000.98%

IBKR Pro Interest Paid on Instantly Available Cash Balances (GBP)

free credit balance · brokerage · as of 2026-10-07

GBP 0 ≤ 8,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (GBP)

free credit balance · brokerage · as of 2026-10-07

GBP 0 ≤ 8,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (GBP)

free credit balance · brokerage · as of 2026-10-07

GBP > 8,0003.20%

IBKR Lite Interest Paid on Instantly Available Cash Balances (GBP)

free credit balance · brokerage · as of 2026-10-07

GBP > 8,0002.20%

IBKR Pro Interest Paid on Instantly Available Cash Balances (HKD)

free credit balance · brokerage · as of 2026-10-07

HKD 0 ≤ 78,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (HKD)

free credit balance · brokerage · as of 2026-10-07

HKD 0 ≤ 78,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (HKD)

free credit balance · brokerage · as of 2026-10-07

HKD > 78,0001.43%

IBKR Lite Interest Paid on Instantly Available Cash Balances (HKD)

free credit balance · brokerage · as of 2026-10-07

HKD > 78,0000.43%

IBKR Pro Interest Paid on Instantly Available Cash Balances (HUF)

free credit balance · brokerage · as of 2026-10-07

HUF 0 ≤ 3,500,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (HUF)

free credit balance · brokerage · as of 2026-10-07

HUF 0 ≤ 3,500,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (HUF)

free credit balance · brokerage · as of 2026-10-07

HUF > 3,500,0002.51%

IBKR Lite Interest Paid on Instantly Available Cash Balances (HUF)

free credit balance · brokerage · as of 2026-10-07

HUF > 3,500,0001.51%

IBKR Pro Interest Paid on Instantly Available Cash Balances (ILS)

free credit balance · brokerage · as of 2026-10-07

ILS All0.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (ILS)

free credit balance · brokerage · as of 2026-10-07

ILS All0.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (INR)

free credit balance · brokerage · as of 2026-10-07

INR All0.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (INR)

free credit balance · brokerage · as of 2026-10-07

INR All0.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (JPY)

free credit balance · brokerage · as of 2026-10-07

JPY 0 ≤ 5,000,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (JPY)

free credit balance · brokerage · as of 2026-10-07

JPY 0 ≤ 5,000,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (JPY)

free credit balance · brokerage · as of 2026-10-07

JPY > 5,000,0000.81%

IBKR Lite Interest Paid on Instantly Available Cash Balances (JPY)

free credit balance · brokerage · as of 2026-10-07

JPY > 5,000,000-0.19%

IBKR Pro Interest Paid on Instantly Available Cash Balances (KRW)

free credit balance · brokerage · as of 2026-10-07

KRW 0 ≤ 12,000,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (KRW)

free credit balance · brokerage · as of 2026-10-07

KRW 0 ≤ 12,000,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (KRW)

free credit balance · brokerage · as of 2026-10-07

KRW > 12,000,0002.65%

IBKR Lite Interest Paid on Instantly Available Cash Balances (KRW)

free credit balance · brokerage · as of 2026-10-07

KRW > 12,000,0001.65%

IBKR Pro Interest Paid on Instantly Available Cash Balances (MXN)

free credit balance · brokerage · as of 2026-10-07

MXN 0 ≤ 200,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (MXN)

free credit balance · brokerage · as of 2026-10-07

MXN 0 ≤ 200,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (MXN)

free credit balance · brokerage · as of 2026-10-07

MXN > 200,0002.05%

IBKR Lite Interest Paid on Instantly Available Cash Balances (MXN)

free credit balance · brokerage · as of 2026-10-07

MXN > 200,0001.05%

IBKR Pro Interest Paid on Instantly Available Cash Balances (NOK)

free credit balance · brokerage · as of 2026-10-07

NOK 0 ≤ 100,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (NOK)

free credit balance · brokerage · as of 2026-10-07

NOK 0 ≤ 100,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (NOK)

free credit balance · brokerage · as of 2026-10-07

NOK > 100,0002.42%

IBKR Lite Interest Paid on Instantly Available Cash Balances (NOK)

free credit balance · brokerage · as of 2026-10-07

NOK > 100,0001.42%

IBKR Pro Interest Paid on Instantly Available Cash Balances (NZD)

free credit balance · brokerage · as of 2026-10-07

NZD 0 ≤ 15,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (NZD)

free credit balance · brokerage · as of 2026-10-07

NZD 0 ≤ 15,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (NZD)

free credit balance · brokerage · as of 2026-10-07

NZD > 15,0000.13%

IBKR Lite Interest Paid on Instantly Available Cash Balances (NZD)

free credit balance · brokerage · as of 2026-10-07

NZD > 15,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (PLN)

free credit balance · brokerage · as of 2026-10-07

PLN 0 ≤ 400,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (PLN)

free credit balance · brokerage · as of 2026-10-07

PLN 0 ≤ 400,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (PLN)

free credit balance · brokerage · as of 2026-10-07

PLN > 400,0001.52%

IBKR Lite Interest Paid on Instantly Available Cash Balances (PLN)

free credit balance · brokerage · as of 2026-10-07

PLN > 400,0000.52%

IBKR Pro Interest Paid on Instantly Available Cash Balances (RON)

free credit balance · brokerage · as of 2026-10-07

RON 0 ≤ 50,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (RON)

free credit balance · brokerage · as of 2026-10-07

RON 0 ≤ 50,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (RON)

free credit balance · brokerage · as of 2026-10-07

RON > 50,0004.12%

IBKR Lite Interest Paid on Instantly Available Cash Balances (RON)

free credit balance · brokerage · as of 2026-10-07

RON > 50,0003.12%

IBKR Pro Interest Paid on Instantly Available Cash Balances (RUB)

free credit balance · brokerage · as of 2026-10-07

RUB All0.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (RUB)

free credit balance · brokerage · as of 2026-10-07

RUB All0.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (SAR)

free credit balance · brokerage · as of 2026-10-07

SAR 0 ≤ 35,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (SAR)

free credit balance · brokerage · as of 2026-10-07

SAR 0 ≤ 35,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (SAR)

free credit balance · brokerage · as of 2026-10-07

SAR > 35,0004.06%

IBKR Lite Interest Paid on Instantly Available Cash Balances (SAR)

free credit balance · brokerage · as of 2026-10-07

SAR > 35,0003.06%

IBKR Pro Interest Paid on Instantly Available Cash Balances (SEK)

free credit balance · brokerage · as of 2026-10-07

SEK 0 ≤ 110,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (SEK)

free credit balance · brokerage · as of 2026-10-07

SEK 0 ≤ 110,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (SEK)

free credit balance · brokerage · as of 2026-10-07

SEK > 110,0001.13%

IBKR Lite Interest Paid on Instantly Available Cash Balances (SEK)

free credit balance · brokerage · as of 2026-10-07

SEK > 110,0000.13%

IBKR Pro Interest Paid on Instantly Available Cash Balances (SGD)

free credit balance · brokerage · as of 2026-10-07

SGD 0 ≤ 14,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (SGD)

free credit balance · brokerage · as of 2026-10-07

SGD 0 ≤ 14,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (SGD)

free credit balance · brokerage · as of 2026-10-07

SGD > 14,0000.57%

IBKR Lite Interest Paid on Instantly Available Cash Balances (SGD)

free credit balance · brokerage · as of 2026-10-07

SGD > 14,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (TRY)

free credit balance · brokerage · as of 2026-10-07

TRY 0 ≤ 250,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (TRY)

free credit balance · brokerage · as of 2026-10-07

TRY 0 ≤ 250,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (TRY)

free credit balance · brokerage · as of 2026-10-07

TRY > 250,0005.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (TRY)

free credit balance · brokerage · as of 2026-10-07

TRY > 250,0004.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (ZAR)

free credit balance · brokerage · as of 2026-10-07

ZAR 0 ≤ 150,0000.00%

IBKR Lite Interest Paid on Instantly Available Cash Balances (ZAR)

free credit balance · brokerage · as of 2026-10-07

ZAR 0 ≤ 150,0000.00%

IBKR Pro Interest Paid on Instantly Available Cash Balances (ZAR)

free credit balance · brokerage · as of 2026-10-07

ZAR > 150,0005.71%

IBKR Lite Interest Paid on Instantly Available Cash Balances (ZAR)

free credit balance · brokerage · as of 2026-10-07

ZAR > 150,0004.71%

USD rates shown only. 100 additional rows cover 26 other currencies and are excluded here — full list in the downloadable dataset.

Vanguardn/a

Vanguard's default cash vehicle is a money market fund (VMFXX), not a bank sweep -- the figure shown is a real fund yield, not a bank-sweep rate, so it isn't apples-to-apples with the rest of this table even though it's the actual number a Vanguard client's uninvested cash earns.

Vanguard Federal Money Market Fund (VMFXX) -- default brokerage settlement fund

money fund sweep · brokerage · as of 2026-10-08

n/a (single share class, no tiers)3.80%

n/a (single share class, no tiers)3.87%

Goldman Sachs (Custody Solutions)n/a

Goldman Sachs Custody Solutions is an RIA-custody platform, advisory-scope only -- there's no retail brokerage-scope bank-sweep product here to compare. Shown as a real reference point for the advisory-custody segment, not a gap in coverage of Goldman's retail/brokerage business (which is a separate, still-unavailable line item -- see UNAVAILABLE_FIRMS).

Goldman Sachs Custody Solutions Cash Sweep Program (Folio Institutional)

bank sweep · advisory · as of 2026-09-23

$0–$24,9990.39%

$25,000–$74,9990.39%

$75,000–$99,9990.40%

$100,000–$249,9990.40%

$250,000–$499,9990.41%

$500,000–$1,999,9990.42%

$2,000,000+0.97%

Goldman Sachs Custody Solutions DP CASH PLUS (Folio Institutional)

bank sweep · advisory · as of 2026-09-23

$0-$24,9990.00%

$25,000-$49,9990.77%

$50,000-$99,9991.36%

$100,000-$249,9991.95%

$250,000-$499,9992.54%

$500,000-$999,9992.93%

$1,000,000+2.93%

Goldman Sachs Custody Solutions DP CASH (Folio Institutional)

bank sweep · advisory · as of 2026-09-23

flat rate (no minimum)0.39%

Frequently asked questions

What is a brokerage cash sweep program?

A cash sweep program automatically moves uninvested cash in a brokerage account into a default vehicle — usually an FDIC-insured bank deposit — that pays a set rate. Most major brokerages set this default rate far below prevailing market rates, and far below what the same brokerage pays on its own money-market-fund options.

Why do brokerages pay so little on uninvested cash?

Cash that sits passively in a default sweep is unlikely to move, so brokerages face little competitive pressure to price it well. The median default sweep rate across 8 verified brokerages tracked here is 0.03%.

What is the typical gap between a default sweep and a money-market fund?

On a $100,000 balance, the difference between the 0.03% median default sweep and the 3.72% median money-market-fund alternative is about $3,685 a year, using simple interest with no compounding. Use the calculator above for your own balance and rate.

How do I switch from a bank sweep to a money-market fund?

Most brokerages let clients change their sweep or cash allocation to a listed money-market fund from within account settings, without opening a new account. The exact steps vary by firm — ask your advisor or check your firm’s cash management settings.

Which brokerages pay the most on uninvested cash?

Among firms with a currently verified rate, Fidelity pays the most (1.96%); most others pay under 0.10%.

Is my brokerage cash sweep FDIC insured?

Bank-sweep programs are typically FDIC-insured because the cash is deposited at partner banks. Money-market-fund sweep alternatives are not FDIC-insured; they carry SIPC coverage and fund-level risk instead.

For press & institutions

This index is built for citation, not just browsing: every figure traces back to a firm’s own current rate-disclosure page or PDF, refreshed daily, with the full per-tier dataset published alongside the headline numbers.

Citing this data

Free to cite with attribution. Download the full JSON or CSV below, or request a custom cut (a specific firm segment, a historical range, or a different balance schedule) at research@switchwize.com.

Advisors & institutions

If this index is useful in a client conversation about idle cash, or you’d like a briefing, a firm-specific comparison, or to flag a correction to a published rate, the same address reaches SwitchWize’s research desk.

Free to embed

Add this calculator to your site

Paste this snippet into any page. No account or API key required, the widget is responsive, and it updates with live rates. A SwitchWize attribution link is included in the embed automatically.

<iframe src="https://www.switchwize.com/embed/brokerage-sweep-index?source=embed_selfserve" width="100%" height="220" loading="lazy" style="border:1px solid #e2e8f0;border-radius:14px;max-width:100%;width:100%" title="SwitchWize calculator"></iframe>
<script>(function(){window.addEventListener("message",function(e){if(e.origin!=="https://www.switchwize.com")return;var d=e.data;if(!d||d.type!=="sw-embed-resize")return;var f=document.getElementsByTagName("iframe");for(var i=0;i<f.length;i++){if(f[i].contentWindow===e.source){f[i].style.height=d.height+"px";break;}}});})();</script>

Full methodology, sourcing, and per-firm exclusion reasons are documented below. See also the SwitchWize Research Desk for other published indices.

Methodology

For each tracked brokerage, the headline rate is that firm's lowest-balance-tier, brokerage-scope (not advisory, not a premium opt-in), bank-sweep-program rate -- the rate a typical retail client with a small uninvested cash balance actually earns by default. The index value is the median of those headline rates across firms where a qualifying, non-flagged rate exists. tier_medians extends the same method to higher balances: at each representative balance point, SwitchWize finds the tier each comparison firm's own ladder actually applies there, then takes the median across the same firm population backing the headline figure -- harmonizing ladders that don't share breakpoints without inventing a rate no firm actually publishes. Full per-tier, per-segment data for every firm (including advisory tiers, money-market-fund sweep alternatives, and premium opt-in programs) is published alongside the headline figures, not just the index number.

Firms are excluded from the median (not from the page) for one of two reasons: (1) the source extractor itself flagged the rate needs_review (its own judgment that the figure shouldn't be trusted as published); or (2) the firm is on a short, deliberately narrow list of sources whose page format carries a genuine risk of not being revisited when the market rate moves (an old, unpublished-since date on a formally dated disclosure like a PDF is treated as evidence a rate hasn't changed, not as staleness -- see the generator's own module docstring for the full reasoning). Separately, three firms (Interactive Brokers, Vanguard, Goldman Sachs Custody Solutions) are shown in their own "reference points" section rather than mixed into this comparison at all: each has real, current, useful data, but none is a brokerage bank-sweep program, so none is apples-to-apples with the rest of this table. None of this is a data-quality failure on SwitchWize's part -- each is documented per-firm in unavailable_firms, reference_firms, or the firm's own exclusion_reason.

The money-market-fund comparison figure above is computed from this same dataset, not a separate source: for each brokerage that discloses a money-market-fund sweep option (VMFXX, SPAXX, and similar government/treasury funds), SwitchWize takes that firm’s best qualifying rate — excluding anything flagged needs-review or any tax-exempt municipal fund, which carries a structurally lower yield and would understate the comparison — then takes the median across 4 qualifying brokerages (7 disclose a money-market-fund option in total). A dedicated external high-yield savings rate was deliberately not used here: it requires opening a new account elsewhere, while a money-market-fund switch happens inside the account this cash is already sitting in.

A note on dates: some rows above show a rate that’s many months old. That’s not a gap in SwitchWize’s tracking — the underlying scraper re-checks every source daily. It’s the brokerage’s own published “as of” date, recorded faithfully rather than corrected to today. For a formally dated rate disclosure (a PDF or a page with an explicit “rates effective” statement), an old, unchanged date is treated as evidence the rate hasn’t moved, not as staleness — it stays in the median. A rate is only excluded from the median for its age if the firm is on a short, named list of sources whose page format carries a genuine risk of not being revisited when the market rate moves.

Sources

Institution	Rate effective	Source
Ameriprise Financial	2026-10-13	View source
Edward Jones	2026-05-21	View source
Fidelity	2026-10-08	View source
Goldman Sachs (Custody Solutions)	undated	View source
Interactive Brokers	undated	View source
LPL Financial	2026-10-02	View source
Merrill (Bank of America)	2026-10-08	View source
RBC Wealth Management	2026-09-17	View source
Stifel	2025-12-12	View source
UBS	2026-10-08	View source
Vanguard	undated	View source
Wells Fargo Advisors	undated	View source

Download JSON Download CSV

SwitchWize. “Brokerage Cash Sweep Index.” Retrieved from switchwize.com/research/brokerage-sweep-index.

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Educational information, not personalized financial advice. Rates are illustrative of current market conditions and should be confirmed with the provider.