Vanguard Cash Plus Account review

Vanguard Cash Plus Account gives Vanguard investors a place for short-term money that stays inside the same login as their funds. Vanguard lists a Bank Sweep APY starting at 3.50% as of November 13, 2026, with no qualifications needed, and a 3.65% Enhanced APY for clients with $1 million in qualifying assets or Personal Advisor enrollment. The Bank Sweep has a $0 minimum, and deposits are spread across program banks for FDIC coverage up to $1.25 million for individual accounts or $2.5 million for joint accounts. The same account can also hold Vanguard money market funds, though each needs a $3,000 minimum and those funds are covered by SIPC, not the FDIC. Everyday tools include direct deposit, bill pay, mobile check deposit, next-day bank transfers and compatibility with PayPal and Venmo. Vanguard's page does not list a debit card or checks, so it works better as a savings account than a spending account.

Who it is for

Vanguard investors who want insured cash beside their funds

Price

$0 minimum; Bank Sweep APY starts at 3.50%, 3.65% Enhanced APY for qualifying clients.

$0 to transfer money to banks and payment apps through EBT (electronic bank transfers) and ACH (automated clearing house).
Quoted from the vendor pricing page on November 13, 2026.

Key features

• Bank Sweep APY starts at 3.50%, as shown on November 13, 2026
• 3.65% Enhanced APY with $1 million in qualifying assets or Personal Advisor enrollment
• $0 minimum investment for the Bank Sweep
• FDIC coverage up to $1.25 million individual or $2.5 million joint
• Direct deposit, bill pay, mobile check deposit and up to $250K in daily transactions

Strengths and weaknesses

• Strength: $0 to transfer money between Vanguard accounts and to banks by ACH
• Strength: Option to hold Vanguard money market funds in the same account
• Strength: Works with PayPal and Venmo
• Weakness: Vanguard's page lists no debit card or checks
• Weakness: Money market funds need a $3,000 minimum each
• Weakness: Bank transfers are next-day rather than instant

Key facts

• Bank Sweep APY: From 3.50%, Nov 13, 2026
• Enhanced APY: 3.65% for qualifying clients
• Minimum: $0 for the Bank Sweep
• FDIC coverage: Up to $1.25M individual, $2.5M joint

Where it ranks

Vanguard Cash Plus Account is No. 4 in our Best Cash Management Accounts verdict.