Best Robo-Advisor Cash Management Accounts of June 2025

During its most recent May meeting, the Federal Reserve voted to hold interest rates steady at 4.5% for a third straight meeting. Interest rates are now sitting in a range of 4.25%–4.50%, which is a drop from the highs of 2023-24. Compared to the relatively low rates in the market when robo-advisors first came on the scene, however, the cash management accounts offered by top robo-advisors now make it possible to earn a 🃏respectable rate of interest on uninvested cash.

The best robo-advisor cash management accounts pay a competitive rate of interest, offer robust sweep functionality, provide access to basic banking capabilities, and more. Based on Investopedia’s proprietary analysis of the data we collected from 20 digital wealth management platforms, the best overall robo-advisor for managing your 🧸uninvested cash is Betterment. Wealthfront is the best platform for paycheck direct deposits, while Merrill Guided Investing stands out as the best choice if you’re looking for traditional banking features. For investors simply looking to earn the ꦆhighest annual percentage yield (APY) on their uninvested cash, Titan is our top choice.

Best Robo-Advisor Cash Management Accounts of June 2025

Best Overall: 澳洲幸运5开奖号码历史查询: Betterment
Best for Paycheck Direct Deposit: 澳洲幸运5开奖号码历史查询: Wealthfront
Best for Traditional Banking Services: 澳洲幸运5开奖号码历史查询: Merrill Guided Investing
Best for Earning a High Interest Rate: Titan

Best Overall : Betterment

Account Minimum

-Cash Management Account: $0
-Robo-Advisor Account: $0, $10 minimum to start investing, $50 minimum for rebalancing

Fees

-Cash Management Account: $0
-Robo-Advisor Account: 0.25% (annual) for investing plan accounts with at least $20,000 or at least $250 per month in recurring account deposits. Otherwise, the fee is $4/month. 0.65% (annual) fee on accounts with at least $100,000 in assets for Betterment Premium account holders with unlimited access to certified financial planners. There are no management fees for Betterment Checking or Cash Reserve. Accounts over $1 million receive fee discounts.

Paid non-client of Betterment. Views may not be representative; see more reviews at the and . about this relationship.

澳洲幸运5开奖号码历史查询:Open Account

Tip

New customers get an 𝓀extra 0.50% AP💧Y for 3 months with a qualifying deposit.

. .

Why We Chose It

Betterment is Investopedia’s choice as the best overall robo-advisor cash management account because of its high interest rate, $0 monthly fees, available no-fee checking, and free worldwide withdrawals from any ATM.

In addition to being the best overall robo-advisor for cash management, Betterment is also Investopedia's 澳洲幸运5💙开奖号码历史查询:top choice for beginners and tax-loss harvesting.

Pros & Cons

Pros

No minimum balance or monthly fees
Free ATM withdrawals worldwide
Sta🦩ndard 4.00% APY is boost🌞ed to 4.50% for new customers

Cons

No interest earned on cash in checking account
No automatic transfer of uninvested cash

Overview

Betterment has built a reputation as one of the top companies in the highly competitive robo-advisor industry. One of the many ways it has done so is by offering industry-leading cash management features. The digital wealth management platform’s Cash Reserve account pays an impressive 4.00% interest rate, and new customers can snag an even better 4.50% APY for the first three months.

Getting started is super simple—there’s no minimum balance required, no monthly fees, and you can open the account with just $10. Investors looking for traditional banking features will like that Betterment also has a checking account, which comes with some strong perks. Customers get free withdrawals from any ATM worldwide and a debit card that earns cash back on purchases.

Now, because Betterment operates with a heavy focus on technology, it doesn't have physical branches. There’s also one little thing to keep in mind: if you want to earn that great interest on your money, you’ll need to manually transfer your uninvested cash into the Cash Reserve account. It’s a quick step, but it’s something to be aware of when opening an account.

is only available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are conducted through the clients’ brokerage accounts at Betterment Securities. For Cash Reserve (“CR”), Betterment LLC only receives compensation from our program banks; Betterment LLC and Betterment Securities do not charge fees on your CR balance.

Checking accounts and the Betterment Visa Debit Card provided and issued by nbkc bank, Member FDIC. Checking is made available through Betterment Financial LLC. Neither Betterment Financial LLC nor any of its affiliates is a bank. Betterment Financial LLC reimburses ATM fees and the Visa® 1% foreign transaction fee worldwide, everywhere Visa is accepted.

Best for Paycheck Direct Deposit : Wealthfront

Account Minimum

-Cash Management Account: $1
-Robo-Advisor Account: $500

Fees

-Cash Management Account: $0
-Robo-Advisor Account: 0.25% for most accounts; no trading commission or fees for withdrawals or transfers

澳洲幸运5开奖号码历史查询:Open Account

Why We Chose It

Wealthfront’s cash management is the best for customers looking to get paid early because it gives ꧒you your paycheck up to two days in advance while also paying one of the highest APYs on your savings.

In addition to being the best robo-advisor for paycheck direct deposit, Wealthfront is also Investopedia's pick for 澳洲幸运5开奖号码历史查询:best overall robo-advisor, as well as our top choice for goal planning, portfolio const🐼ruction, and portfolio management.

Pros & Cons

Pros

Early paycheck access with direct deposit
4.00% APY on all balances
Free withdrawals from 19,000+ ATMs
Up to $8 million in FDIC coverage
Rapid transfers 24/7

Cons

No access to human advisors
$2.50 out-of-network ATM fee
Check-writing requires specific balanc﷽e and deposi💫t levels

Overview

Wealthfront, another top robo-advisor, delivers one of the best cash management accounts on the market today. Wealthfront’s offering allows customers to earn 4.00% APY on all balances, which is highly competitive. Plus, there’s no monthly fee, and you only need $1 to open an account, making it super accessible.

Wealthfront account holders also get a debit card with free withdrawals from 19,000+ in-network ATMs, including those conveniently found at Target, CVS, and Walgreens. Another great feature is the ability for users who 🐽set up direct paycheck deposits to get paid u𝓡p to two days early—a perk rarely available at traditional banks.

Similar to other companies mentioned here, Wealthfront does have some drawbacks. Wealthfront is an online digital wealth management platform in the purest sense, meaning it does not provide access to human advisors. If you use an out-of-network ATM, Wealthfront will also charge a $2.50 fee. Every month, however, Wealthfront will reimburse out-of-network ATM fees up to $7.50 for each of the first two domestic out-of-network ATM withdrawals.

Wealthfront does let you write checks, but thꦑere’s a catch: you’ll need to maintain an average balance of at least $1,000 across your Wealthfront accounts for at least 30 days to unlock this feature. It’s something to consider if writing che♒cks is a priority for you.

In December 2024, Wealthfront announced free 24/7 instant withdrawals to external bank accounts. This featureꦍ is aimed at encouraging customers to keep more money in their cash account knowing that they can move it out any time they need it.

Best for Traditional Banking Services : Merrill Guided Investing

Account Minimum

-Cash Management Account: $1,000
-Robo-Advisor Account: $1,000, or $20,000 with an advisor

Fees

-Cash Management Account: $125 annually
-Robo-Advisor Account: Annual 0.45% of assets under management, assessed monthly. With advisor — 0.85% (Discounts available for Bank of America Preferred Rewards participants)

澳洲幸运5开奖号码历史查询:Open Account

Why We Chose It

Investopedia selected Merrill Guided Investing as the best cash management account for traditional bank services because o𓃲f its industry-leading lineup of the typical banking features including check-writing, ATM access, and bill pay directly from your inv𒁏estment balance.

Pros & Cons

Pros

Check writin🦂g⛄ and bill pay linked to investment account
Access to Bank of America ATMs
$200 ♐annual reimbursement for out-of-network ATM fees

Cons

Above average fees
No access to human advisors at the base level

Overview

If you’re looking for a cash management account that feels a bit more like traditional banking, Merrill Guided Investing might be a good fit. With Merrill’s cash management account, customers can make ATM withdrawals, write checks, a❀nd pay bills directly from their investment account.

Merrill’s robo-advisory has other perks, as well. Merrill works seamlessly with Bank of America ATMs, so you can deposit checks and cash easily. Plus, if you use an out-of-network ATM, Merrill will reimburse you up to $200 a year for those extra fees. Need help? You can talk to a Merrill expert by p🎐hone or simply visit a Bank of America branch🔴 in person.

There are a few things to keep in mind, however, when considering Merrill’s digital wealth management platform. The account offers a competitive 4.11% interest rate on balances, but it also comes with a 0.45% annual fee. Although there is a way to get that fee waived, this can only occur if you meet specific conditions. Finꦕally, FDIC insurance is another consideration. Merrill’s cash management account only insures up to $250,000, which is standard for traditional banks but low𓄧er than what some competing robo-advisor platforms offer.

Best for Earning a High Interest Rate : Titan

Account Minimum

-Cash Management Account: Varied, up to $3,000
-Robo-Advisor Account: $500

Fees

-Cash Management Account: 0.20%
-Robo-Advisor Account: $25/month or $250/year when billed annually, 0.20% for advisory clients

澳洲幸运5开奖号码历史查询:Open Account

Why We Chose It

For investors looking to earn a high rate of interest on their unused cash, Titanꦺ’s Smart Treasury account is Investopedia’s top choice. The account actively scans money market and Treasury funds to find the highest return on your uninvested cash anꦫd moves your funds to wherever they can earn the best rate.

Pros & Cons

Pros

4.23% APY on cash
Optimized for tax savings
Daily search for highest Treasury fund returns

Cons

Electronic deposits and withdrawals only
Two to four business days required for withdrawa▨ls
No ATM or checking services

Overview

For investors looking to earn the highest possible return on your uninvested cash, the Titan Smart Cash account is worth considering. It offers an impressive APY of up to 4.23%—the highest rate among the robo-advisors we’ve looked at for existing account holders.

Titan’s approach to maximizing your returns is unique in the industry. After scanning money market and Treasury funds on a daily basis, the platform moves an accoun♓t holder’s cash to wherever it can earn the best rate. On top of that, Titan considers your tax situation, choosing Treasury funds that might help you save on taxes from your interest earnings. Ti⛦tan Smart Cash account does all of this without charging a monthly fee, and the quoted return is already adjusted for any fund-related expenses.

That said, there are a few things to keep in mind. Withdrawals can take as much as “a few” business days. That’s due to the fact that Titan must first sell off Treasury funds. Also, unlike its competitors listed above, Titan’s account is focused solely on providing the best interest rate, and customers don’t get banking features like debit cards, ATMs, or bill pay. Lastly, to gain access to your cash, you’ll need to transfer it to another bank account first.

It is important to remember that Titan's Smart Cash is not an automated sweep from your managed account with the service.

Why You Should Trust Us

Investopedia has been helping readers find the best t༒ools and platforms for managing their finances since 1999. Investopedia’s team of editors and research analysts evaluated 20 robo-advisor cash management accounts based on 53 criteria that are critical to helping investor𓆉s choose the right robo-advisor cash management accounts. We used this data to review each platform for fees, rate of interest earned, ease of use, and other key features to provide unbiased, comprehensive reviews to ensure our readers make the right decision for their investing needs.

Our research and ratings are entirely independent, with no influence from advertising partnerships, and our full-time team of expert writers and editors aims to be unbiased to ensure you’re getting the best recommendations when looking for a robo-advisor with strong cash management features. Investopedia’s 🎃staff editors, research analysts, and com🍃pliance managers work hard every business day to keep this article up to date and accurate by monitoring product changes on robo-advisor websites and making changes to our content as needed.

Trends in Robo-Advisor Cash Management

The days of 5% on a checking account appear to be over for a bit now that the Federal Reserve has started the process of easing rates from 2023-24 highs. All of the robo-advisors in this list have had to adjust their rates downwards in tandem with Fed's rate path, making 4% the benchmark these days. This has opened up a bit more competition in how cash management services are delivered. Wealthfront has directed resources at this, announcing free wire transfers with individual, joint, and trust cash accounts in addition to free instant withdrawals and other upgrades. Be🧸tterment still ranked higher based on its larger fee free (reimbursed) ATM network, but now is not the time to be resting on its laurels.

One of the areas all of these robo-advisors could improve in for 2025 is in rules based sweeps. One service that didn't make our list is 澳洲幸运5开奖号码历史查询:M1 Finance with its Smart Transfers to handle cash allocation. M1 has dropped its spend account and has a 4% high-yield savings account. However, M1 is not a true robo-advisor, as it combines self-directed brokerage features with pre-built portfolios. Another near miss is Fidelity and its robo-advisor, Fidelity Go. Fidelity regularly cleans up in✱ our broker rankings, and part of that is because it has a sweep into money market funds for uninvested cash. Fidelity also offers a cash management account with all the features you'd expect. The problem is that Fidelity's cash management account goes into the bank program with around 2% less in yield unless you move it into the money market funds for higher yields. On your investment account, Fidelity does this for you automatically. Simply put, the competition is heating up beyond simply interest rates and these firms will have to continue to improve to hold on to their cꦓlients.

What Is A Cash Management Account?

A 澳洲幸运5开奖号码历史查询:cash management account is a type of account offer💫ed by financial institutions like brokerages and robo-advisors, or an automated investment service generally available to everyday investors. Similar to checking and savings accounts, cash management accounts offer interest on cash and may provide a debit card, ATM access, and check-writing capabilities.

The interest you earn from a cash management account is taxable and is treated by the IRS like 澳洲幸运5开奖号码历史查询:interest income, 🐻which 🌠means it’s subject to ordinary income tax.

Since these accounts are typically offered by non-bank financial institutions, these accounts may keep your money at FDIC-insured partner banks. Others may invest your money in a 澳洲幸运5开奖号码历史查询:money market fund, or a type of low-risk 🦹mu✃tual fund that invests in short-term debt.

Cash management accounts are typically insured through the 澳洲幸运5开奖号码历史查询:Federal 𒊎Deposit Insurance Corporation (FDIC) or the 澳洲幸运5开奖号码历史查询:Securities Inv𒀰estor Protection Corporation (SIPC).

At each FDIC-insured bank, depositors are insured up to $250,000 per ownership category in the event of a 澳洲幸运5开奖号码历史查询:bank failure. Examples of ownership categories are single accounts, joint accounts, and revocable trust accounts. However, because robo-advisors may sweep your cash across different p💫artner banks, the amount that’s insured may greatly exceed $250,000, depending on the account.

If your funds are held at a brokerage, you may be covered by SIPC insurance, which covers up to $500,000 worth of securities including $250,000 of cash. SIPC insurance does not protect you against changes in the value ofꦰ your investments, but instead provides insurance if customers’ assets are missi𓄧ng.

Cash management accounts may charge fees or have minimum balance requirements too. There may bওe mo🐓nthly fees, a minimum opening deposit, a minimum balance to earn a certain APY, ATM fees, and more.

Who Is A Cash Management Account Good For?

A cash managem𒈔ent account is best for people who prefer having their cash and investments in one place, like a brokerage firm or a robo-advisor.

Rather than opening checking, savings, and brokerage accounts at different financial institutions, a cash management account gives people access to an account that functions liღke a checking and savings account at a non-bank financial institution.

Account holders can use their cash management account to store their 澳洲幸运5开奖号码历史查询:emergency fund, pay for everyday expenses, or sa🌌ve for a specific financial goal, among other things.

Alternatives To Cash Management Accounts

If you’re looking for an account or investment that has a generous yield and provides easy acc🍌ess to cash, there are many other options available at banks and brokerages.

High-Yield Savings Accounts

A 澳洲幸运5开奖号码历史查询:high-yield savings account is a type of savings account that typically offers higher interest rates than traditional savings or checking accounts. High-yield savings accounts offer APYs that aওre comparable to those provided by cash management accounts, making them a solid option for emergency savings.

However, unlike cash management accounts, high-yield savings accounts are offered by banks and credit unions. Some high-yield savings accounts also limit the number of withdra🎀wals you can make from your account each month. In some cases, each withdrawal o🌱ver the specified limit incurs a fee. And most financial firms offering high-yield savings accounts don’t provide debit or ATM cards.

Money Market Accounts

A 澳洲幸运5开奖号码历史查询:money market account combines features of both checking and savings accounts—they typically boast high AP💛Ys and typically offer check-writing privileges as well as an ATM or debit card.

But these accounts may also have certain requirements you’ll want to pay attention to, liꦅke a required minimum balance to earn a higher APY, monthly maintenance fees, and a minimum opening deposit. They may also impose a limit on the number of monthly withdrawals.

Money market accountsꦰ ♚are not the same as money market funds.

Money Market Funds

澳洲幸运5开奖号码历史查询:Money market funds are a type of mutual fund that invests in short-term debt such as 澳洲幸运5开奖号码历史查询:corporate bonds and 澳洲幸运5开奖号码历史查询:Treasury bills. These funds are low-risk and generally have yields that a𝔍re comparable or higher than the APYs offered on high-yield savinꦇgs accounts.

Investors can purchase these funds at brokerages and robo-advisors. Depending on what type of money market fund you invest in, you may be subject to federal, state, and local income tax.

How We Chose the Best Robo-Advisor Cash Account🐠s

Investopedia is dedicated to providing investors with unbiased, comprehensive rev🍃iews and rati🔯ngs of digital wealth management platforms. Our ratings of the best robo-advisor cash management accounts are based on our own proprietary research of four categories and 53 criteria that are critical to readers choosing the best robo-advisor for their cash management needs. The following category weights were used to rate each company:

Account Services: 63.00%
Portfolio Management: 9.00%
Fees: 7.50%
Customer Service: 5.00%
Security & Education: 4.00%
Account Setup: 3.00%
Goal Planning: 3.00%
Portfolio Contents: 3.00%
User Experience: 2.00%

We used this data to develop a comprehensive rubric for evaluating 20 robo-advisors based on their account amenities, interest earned on uninvested cash, minimum investment, and other features, to help our readers choose the right cash management account. For each company, Investopedia's team of researchers and full-time editorial staff analyzed data obtained directly from company websites and representatives. Our data collection process ran from Jan. 8 to Jan 13, 2025.