Vanguard has launched their Cash Plus Account and a savings account alternative with no account fees. Details below.
- Update 6/9/2023: We’ve updated available details on the Vanguard Cash Plus Account.
Offer Details

The Vanguard Cash Plus Account is a new product from Vanguard designed to make your cash work harder. Key features of this account include:
- Competitive APY: The account offers a competitive annual percentage yield (APY) of 4.50% as of June 24, 2023. However, the APY is variable and may change over time.
- No Fees and No Minimum Balance: Vanguard doesn’t charge any fees to open the account and there are no minimum balance requirements. Additionally, there are no limits on how often you can transfer money. However, there might be low fees for certain types of transactions, but a $20 annual account service fee can be waived if you elect e-delivery of documents.
- FDIC Coverage: The cash in your Vanguard Cash Plus Account is eligible for FDIC coverage up to $1.25 million for individual accounts and $2.5 million for joint accounts.
Additionally, the Vanguard Cash Plus Account offers several other benefits, such as:
- Easy Online Transactions: Vanguard provides routing and account numbers for paying bills, setting up direct deposit with your employer, and using payment apps like PayPal and Venmo. There is no need for a checkbook or debit card.
- Holistic View of Finances: With a Vanguard Cash Plus Account and a Vanguard Brokerage Account, you can manage your cash and investments in one place, simplifying your financial management.
- Early Access to New Features: As an early adopter, you’ll have access to the account’s competitive APY, new transfer platform, and other features.
This account is a “pilot offer,” meaning it’s in its earliest stage and is currently being offered to a select number of clients, with not all planned features active yet. Over time, Vanguard plans to expand the account’s features and capabilities. This is not a cash management account and doesn’t offer checkwriting or an ATM card.
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TRENDING DEAL:
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How To Open An Account
Opening the account requires providing some personal and bank information, account objectives, and employment status. If you’re opening a joint Vanguard Cash Plus Account, both owners should have existing Vanguard Brokerage Accounts.
The Vanguard Cash Plus Account is a brokerage account offered by Vanguard Brokerage Services. The cash in the account is not covered by the Securities Investor Protection Corporation (SIPC), but it is eligible for insurance by the Federal Deposit Insurance Corporation (FDIC).
- Availability: Nationwide
- Monthly fees: None
- Insured: FDIC
>> LEARN MORE ABOUT THE VANGUARD CASH PLUS ACCOUNT
READ MORE: YOU’LL WANT TO COMPARE THIS OFFERING TO THE POPULAR CASH ACCOUNT WITH WEALTHFRONT
Monthly Fees
This account has no monthly fees
Bottom Line
Since this is still in the pilot stage, not all Vanguard members can use it yet and not all benefits have been finalized.
READ MORE: LEARN ABOUT VANGUARD PERSONAL ADVISOR SERVICES HERE
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