Vanguard Cash Plus Account

Business Profile

Core Value Proposition

Vanguard Cash Plus Account provides a cash management account designed to offer a competitive yield on your short-term savings.

Target Customer

Individual investors and Vanguard account holders who want to manage cash alongside investments, seeking a high-yield, low-cost cash management option integrated with Vanguard accounts.

Key Differentiator

Bank sweep with FDIC coverage delivering a high yield (up to 9x traditional savings), integrated with Vanguard accounts, and offered with low or no fees; promoted as a convenient, all-in-one cash management solution for DIY investors.

Implementation Timeline

Setup is available online; next-day transfers are supported; yields are variable and updated with market conditions

Pain Points

1Low yields in traditional savings accounts
2Need for convenient, high-yield cash management that integrates with existing Vanguard investments
3Desire for FDIC-backed protection and easy digital access with minimal fees

Key Features

1High yield via the Vanguard Cash Plus sweep program (APY varies; claims up to 9x traditional savings)
2FDIC coverage through the bank sweep arrangement
3No or low cost: $0 to open, $0 minimum balance, $0 account service fees with e-delivery; some transactions may incur fees (e.g., outgoing wires)
4Next-day bank transfers, mobile check deposit, and ability to pay bills
5View/manage the Cash Plus Account alongside other Vanguard accounts online and in the app; routing and account numbers provided
6Compatibility with PayPal and Venmo

Target Customer Industries

1Finance
2Technology

Decision Makers

1Individual Investor
2DIY Investor

Client Results

1Higher cash yield for short-term balances compared with traditional bank savings accounts
2FDIC-backed safety via bank sweep
3Convenient cash management with seamless Vanguard account integration and digital access
4Flexible transfers and bill payments with easy online/app access

Competitive Advantages

1Higher potential yield on cash than traditional savings accounts via the bank sweep program
2FDIC coverage for bank-sweep cash
3No/opening fees and no minimum balance; no ongoing account service fees with e-delivery
4Tightly integrated with Vanguard accounts and services for a unified experience
5Recognized for DIY investor satisfaction (e.g., J.D. Power awards) and broad investor trust

Key Benefits

1Competitive yield on short-term cash (via Cash Plus sweep)

2FDIC coverage through bank sweep

3No/low fees: $0 to open, $0 minimum balance, $0 fees with e-delivery

4Next-day transfers and easy transfers between Vanguard accounts

5Online and mobile access to manage funds alongside other Vanguard accounts

6PayPal and Venmo compatibility

Additional Product Information

Product Description

A cash management account designed to offer a competitive yield on short-term savings, acting as a savings account alternative that can hold both short-term cash and long-term investments at Vanguard, with bank sweep FDIC coverage and integrated online/app access.

Target Market

Individual investors seeking cash management with high yield and seamless integration to their Vanguard investment accounts.

Unique Value Proposition

A high-yield, FDIC-insured cash management solution that sits alongside Vanguard's investment accounts, delivering convenient, low-cost cash management for DIY investors.

Technical Requirements

Online banking access and a Vanguard account; routing and account numbers are provided for linking and transfers; available via Vanguard's website and mobile app

Pricing Model

Pricing is low-cost with no opening fee, no minimum balance, and no ongoing service fees with e-delivery; some transactions (e.g., outgoing wires) may incur fees

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