What the NerdWallet Cash Account is
The NerdWallet Cash Account 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, though timing and availability may vary.
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.
Important note for users
Terms, features, and availability may change. Users should review current disclosures and account details before opening or funding an account.