Brokerage cash sweep rates after the September 16, 2026 Fed hike: who raised and who did not

On September 16, 2026, the Federal Reserve raised the target range for the federal funds rate by a quarter point, to 3.75%–4.00%. The effective federal funds rate published by the New York Fed went from 3.63% on September 16 to 3.88% on September 17, 2026.

This page lists what brokerages and investing apps say they pay on cash you have not invested, as posted on each firm's own website on September 19, 2026 (Eastern time), next to the rate on the last copy of the same page that the Internet Archive saved before the decision:

• A quarter point higher: moomoo, Robinhood Gold, Wealthfront, Interactive Brokers and M1. Robinhood dates its new rate September 17 and Wealthfront September 18. M1's page still says its rates are current as of January 2026.
• The same as before the hike: Public at 3.30% and Betterment at 3.25%, a rate Betterment dates December 12, 2025.
• 0.01%: the standard bank sweeps at Schwab and at Merrill (under $250,000), the same as on copies saved before the decision, and at E*TRADE (under $500,000).
• Set by a formula: Schwab Intelligent Portfolios resets its rate on the first business day of each month, so its first reset after the hike is October 1.
• Webull shows its rate only inside its app.

Money market funds, which some brokerages use for uninvested cash instead of a bank sweep, are listed separately below. They are not bank deposits.

None of these firms is a bank

None of the brokerages and apps on this page is an FDIC-insured bank, and neither is Dollars Ahead. FDIC deposit insurance covers the failure of an insured bank; it does not cover the failure of a brokerage. What each firm offers is a way to place your cash at one or more banks:

• Sweep programs. The firm moves your uninvested cash into deposits at “program banks” (Public calls them partner banks). Each firm names its banks; the lists are linked in the sections below. Coverage through a program reaches you only if certain conditions are met, and money you already hold at the same bank counts toward that bank's limit.
• Money market funds such as VMFXX and SPAXX are not deposits, are not insured by the FDIC, and may lose value.
• Interactive Brokers pays its rate on cash held at the broker, which it says is not eligible for FDIC coverage.

The coverage amounts in the sections below are the firms' own statements. The FDIC explains the rules at fdic.gov.

Firm by firm

Each section quotes the firm's page, gives the conditions it attaches to the rate, and links the page we read. The archived copies are on the Internet Archive's Wayback Machine.

moomoo

moomoo's help center lists two rates for its cash sweep: 3.6% for new customers of Moomoo Financial Inc. who had not made a deposit before January 1, 2026, and for existing customers who met certain conditions; and 0.03% for customers who made a deposit before January 1, 2026 but have not met those conditions. The table carries no date. The copy saved on August 19, 2026 showed 3.35% and 0.03% for the same two groups.

moomoo's cash sweep landing page still advertises a 3.35% promotional rate “as of 12/10/25”.

Sources: moomoo Help Center, Deposit Bank List and Rates; moomoo, Cash Sweep; archived copy, August 19, 2026.

Robinhood

Robinhood pays interest on uninvested cash through its High-Yield Cash Program, which it describes as open to “Robinhood Gold subscribers ($5 monthly subscription)”. Its rate page says: “The program's APY is 3.6% for Robinhood Gold members as of Sept 17, 2026.” The copy of that page saved on June 10, 2026 read: “The program's APY is 3.35% for Robinhood Gold members as of Feb 11, 2026.”

Robinhood lists its program banks “as of July 1, 2026” and says cash deposited to them is eligible for FDIC insurance of up to $2.5 million for individual accounts and up to $5 million for joint accounts. It adds: “Robinhood is not an FDIC-insured bank. Deposit insurance covers the failure of an insured bank.”

Sources: Robinhood, High-Yield Cash Program interest rate (APY); Robinhood, Cash sweep program and program banks; archived copy, June 10, 2026.

Wealthfront

Wealthfront's Cash Account page reads “3.55% Base Annual Percentage Yield (APY) as of 09/18/2026.” The copy saved on September 9, 2026 read “3.30% Base Annual Percentage Yield (APY) as of 01/30/2026.”

The page advertises up to 4.45% with two additions to the base rate: a 0.65% boost for new clients for three months, and 0.25% for clients who invest and make a monthly direct deposit of $1,000 or recurring deposits of $2,500. It says boosts apply up to a $150,000 balance.

Wealthfront says it uses program banks to make available FDIC coverage of up to $8 million, and lists the banks as of July 28, 2026.

Sources: Wealthfront, Cash Account; Wealthfront, Program Banks; archived copy, September 9, 2026.

Interactive Brokers

Interactive Brokers pays its benchmark rate minus 0.5% on US dollar cash for IBKR Pro accounts and minus 1.5% for IBKR Lite: 3.38% and 2.38%, with “Rates as of September 18, 2026.” Nothing is paid on the first $10,000, and the full rate applies only when the account's net asset value is $100,000 or more; below that, the rate is cut in proportion to the net asset value. The copy saved on August 22, 2026 showed 3.13% for IBKR Pro, dated August 7, 2026.

Its page says: “Interactive Brokers LLC is a U.S. Broker/Dealer and not a Bank, as such Interactive Brokers' accounts are not eligible for FDIC coverage but are insured through SIPC.”

Sources: Interactive Brokers, Interest Rates; archived copy, August 22, 2026.

M1

M1's High-Yield Cash Account page shows a standard APY of 3.35% and the line “M1 rates current as of January 2026.” The same page saved on August 7, 2026 showed 3.10% with the same January 2026 line, and M1's home page still showed “Earn 3.10% APY” on August 19, 2026. M1 says the stated APY requires a minimum initial deposit of $100, and that the accounts are FDIC-insured up to $4.75 million.

Sources: M1, High-Yield Cash Account; M1, participating bank list; archived copy, August 7, 2026; archived home page, August 19, 2026.

Vanguard

Vanguard offers two bank sweep products. Vanguard Cash Deposit, which it calls “an alternative settlement fund option to Vanguard Federal Money Market Fund,” showed 1.75% APY. The Vanguard Cash Plus Account showed 3.35% APY, which Vanguard says “includes a 0.25% boost effective through September 30, 2026.” Both pages print the day you view them as the date of the rate, and they load the rate after the page opens, so archived copies do not show it.

Vanguard Federal Money Market Fund (VMFXX) had a 7-day yield of 3.70% as of September 18, 2026. Vanguard says Cash Deposit is “eligible for FDIC coverage up to $1.25 million for individual accounts and $2.5 million for joint accounts.”

Sources: Vanguard Cash Deposit; Vanguard Cash Plus Account; Vanguard Federal Money Market Fund.

Public

Public's High-Yield Cash Account page says “Earn 3.30% APY on your cash” and gives no date for the rate. The copy saved on August 13, 2026 showed the same 3.30%. Public describes the account as a second brokerage account whose cash is deposited at partner banks, advertises 20x the standard FDIC insurance, and says: “Neither Public Investing nor any of its affiliates is a bank.”

Sources: Public, High-Yield Cash Account; Apex Clearing partner bank list for Public; archived copy, August 13, 2026.

Charles Schwab

Schwab's cash investments page lists 0.01% APY for “Uninvested cash in your Schwab brokerage account,” with annual percentage yields “accurate as of 9-19-2026.” The copy saved early on September 16, 2026 showed the same 0.01%.

Schwab's robo-advisor, Schwab Intelligent Portfolios, has its own sweep program: “Effective September 1, 2026, the current interest rate is 3.29% APY.” Schwab says the rate “is set on the first business day of each month equal to the seven-day yield (with waivers) for the Schwab Government Money Fund – Sweep Shares (symbol: SWGXX) as determined at the end of the prior month.”

Sources: Schwab, Cash Investments; Schwab Intelligent Portfolios Sweep Program; archived copy, September 16, 2026.

Betterment

Betterment's help page says: “As of 12/12/2025, the APY we are offering for Cash Reserve is 3.25%.” The copy saved on March 17, 2026 said the same. Betterment's cash page offers new customers a 0.75% boost on up to $1 million through January 15, 2027. It says FDIC insurance is available through its program banks up to $4 million, or $8 million for joint accounts, subject to certain conditions.

Sources: Betterment, What is the interest rate on my cash?; Betterment, Cash Reserve; archived copy, March 17, 2026.

Fidelity

The Fidelity Cash Management Account offers two core positions. In the FDIC-Insured Deposit Sweep Program, cash earned 1.94% (1.96% APY) on every balance tier as of September 18, 2026. Fidelity Government Money Market Fund (SPAXX) had a 7-day yield of 3.36% on the same date.

Fidelity says: “Fidelity is not a bank and brokerage accounts are not FDIC-insured, but uninvested cash balances are eligible for FDIC insurance.” Of SPAXX it says an investment in the fund “is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.”

Sources: Fidelity, Interest Rates for the Cash Management Account; Fidelity, Cash Management Account FAQs.

E*TRADE

E*TRADE's Bank Deposit Program table shows 0.01% APY for balances up to $499,999, 0.05% from $500,000 and 0.15% from $1,000,000. The “as of” date next to the table was blank when we read the page, and we found no archived copy from the weeks before the decision.

Source: E*TRADE, Sweep rates.

Merrill

Merrill's rate sheet shows the Merrill Lynch Bank Deposit Program at 0.01% for balances under $250,000 and from $250,000 to $999,999, 0.05% from $1,000,000 and 0.15% from $10,000,000, “as of 9/18/2026”. The copy saved on September 3, 2026 showed the same 0.01% for the first tier. The rate sheet says: “Merrill is not a bank and FDIC deposit insurance only covers the failure of an FDIC-insured bank.”

Sources: Merrill, Cash sweep and money market rate sheet (PDF); archived copy, September 3, 2026.

Webull

Webull's help page says: “Currently, the APY can only be viewed through the mobile app.” It says Premium subscribers receive a higher rate than non-subscribers (excluding IRAs), and lists its program banks as of August 26, 2026.

Source: Webull, Cash Management Program.

How we checked

• Each rate was read on September 19, 2026 (Eastern time) from the firm's own page, or from the data file that page loads. We did not use other websites' tables.
• Several firms print the current day, or the last business day, next to the rate. That date shows when the page was produced, not when the rate last changed, which is why we compare with archived copies.
• The “before” figures come from the Internet Archive's copies of the same pages. Where no copy exists, or the page loads its rate by script, we say so rather than estimate.
• The Fed's decision is from its September 16, 2026 statement, and the effective federal funds rate from the New York Fed.

Sources: Federal Reserve, FOMC statement, September 16, 2026; Federal Reserve Bank of New York, Effective Federal Funds Rate; Internet Archive, Wayback Machine.

What this page does not cover

• Taxes. Interest on bank deposits is subject to state income tax; interest on US Treasury securities is exempt from it, and money market funds fall in between, depending on what they hold.
• Bank savings accounts, CDs and Treasury bills bought directly.
• Promotions beyond the ones printed on the pages we cite, and rates for retirement accounts, which some firms set differently.

Rechecks and changes

We will recheck every firm after the Fed's next decision, scheduled for October 27–28, 2026, and at least once a month in between. Every change will be listed here with its date. If a figure is wrong, tell us.

• September 19, 2026. First published.

This page reports rates that brokerages publish about their own accounts. It is not a recommendation of any firm or account, and it is not financial or tax advice. We have no business relationship with any firm on this page.