Vanguard Cash Plus account

[wompo]

Have people here been offered ability to sign up for Vanguard Cash Plus account? Looks like a checking account without ability to write checks. Offering 4.7%

 

[bloom2708]

Yes. I received the emails and notifications.

I'm going to stick with the Federal Money Market as our Settlement Fund. 5.28% 7 day SEC yield.

Our SoFi savings is 4.6%, so not worth it.

It is a good option if you want FDIC insured savings.

 

[Sojourner]

If you're referring to the Vanguard Cash Deposit program, yes, I have received emails about it. Offering 3.7% APY and FDIC protection.

Not interested, personally, since I'd rather keep my cash in VFMXX at 5.29%. I have no need for check-writing or FDIC protection for the funds I keep there.

EDIT: I see now that the Cash Plus program is distinct and different from the Cash DEPOSIT program. I don't see myself being too interested in either one at this point.

 

[RunningBum]

Is Cash Plus an invite only thing? I see info about it but can't figure out how I'd open that account.

 

[jazz4cash]

Does Vanguard offer a cash management account with checking and billpay? I don’t think we received an email for the cash plus account. I just looked on the mobile app but its pretty thin on content

 

[RunningBum]

Have people here been offered ability to sign up for Vanguard Cash Plus account? Looks like a checking account without ability to write checks. Offering 4.7%

I misread this post. I thought you could write checks on it, but you can't. You also can't pay bills online, nor does it come with a debit/atm card. I don't really see any value for this over the sweep account I have now, other than FDIC insurance. I suppose that's something.

Informative review here: https://www.mymoneyblog.com/vanguard-cash-plus-account-review.html