What the NerdWallet Cash Account is
The NerdWallet Cash Account (also referred to as the Atomic Cash Account in support and brokerage communications) is a cash-holding account made available through NerdWallet and offered by Atomic Brokerage, LLC, a registered broker-dealer.
How it works (high level)
Money placed in the account is held as cash and may be swept to one or more participating banks through a cash sweep program. These banks are separate financial institutions.
Interest
Cash in the account may earn interest. Interest rates are variable and can change at any time.
Insurance & protection
Cash that is swept to participating program banks is eligible for FDIC insurance, subject to standard FDIC rules and limits.
The account itself is not a bank account.
Cash held through this account is not protected by SIPC, because it is not invested in securities.
Access to funds
Funds are generally available for withdrawal. After a deposit, a 5-business-day hold period applies before funds can be withdrawn. In some cases this hold may be extended. For details on withdrawal delays, see Why are the funds I withdrew from my Atomic account delayed?
Who provides the account
Atomic Brokerage, LLC is responsible for the brokerage account and cash sweep program.
NerdWallet is not a bank and does not directly hold customer funds.
Having trouble with a withdrawal?
If your withdrawal is delayed or you're unable to cancel a pending withdrawal, see Why are the funds I withdrew from my Atomic account delayed? or contact Atomic Brokerage Support at [email protected].
Important note for customers
Terms, features, and availability may change. Customers should review current disclosures and account details before opening or funding an account.