Vanguard Cash Plus Account Review: Online Cash Management Account

The Vanguard Cash Plus Account offers a high interest rate, but withdrawals and deposits are limited to online transfers.
Profile photo of Chanelle Bessette
Written by Chanelle Bessette
Lead Writer
Profile photo of Sara Clarke
Edited by Sara Clarke
Assistant Assigning Editor
Fact Checked

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Vanguard Cash Plus Account
NerdWallet rating 
Learn More

at Vanguard, Deposits are FDIC Insured

The Vanguard Cash Plus Account offers a high interest rate and federal insurance up to $1.25 million for individual accounts. It’s a cash management account, which provides the services and features of checking or savings accounts, but these types of accounts are typically offered by brokerages, not banks. These brokerages sweep customer deposits into accounts at partner banks behind the scenes to provide insurance.

Best for: Vanguard customers who wish to earn a high interest rate and have access to a higher-than-average federal insurance limit on their savings.

Reviewed in: Feb. 2024. Period considered: Feb. 2024.

NerdWallet doesn’t invest its money with this provider, but they are our referral partner – so we get paid only if you click through and take a qualifying action (such as open an account with or provide your contact information to the provider). Most importantly, our reviews and ratings are objective and are never impacted by our partnerships. Our opinions are our own. Here is a list of our partners and here’s how we make money.

Where Vanguard shines

Where Vanguard falls short

  • Offers a high annual percentage yield.

  • Annual fee is easily waived with e-statements.

  • High federal insurance limit through partner banks.

  • Limited ways to make withdrawals and deposits.

Checking and savings features


NerdWallet rating 


High interest rate. With a rate of 4.60% APY, the Vanguard Cash Plus Account rivals the rates found on many high-yield savings accounts.

No minimum balance requirement. The account doesn’t require customers to maintain a minimum balance to keep the account open.

High federal insurance through third-party banks. Vanguard works with partner banks to sweep customer funds into accounts that are insured by the Federal Deposit Insurance Corp. Customers can get up to $1.25 million in insurance on their deposits or up to $2.5 million for a joint account.

Easy way to avoid annual fee. The account comes with an annual fee of $25 that can be waived if you sign up for e-statements.

Unlimited number of transactions. There is no limit to the frequency of transactions that can be made with the account.

High withdrawal limit. Customers can withdraw up to $100,000 in a single business day.


No way to withdraw or deposit cash, and no check writing. The only way to move money with the Vanguard Cash Account is through online transfers using your routing and account numbers. The account can also receive direct deposits and mobile check deposits.

Customer experience


NerdWallet rating 


Solid website and decent app ratings. Vanguard’s website is easy to navigate, and its mobile app has decent ratings in the Apple and Google app stores.

Mobile check deposit available. Customers enrolled in Vanguard Cash Plus are able to fund their account with the Vanguard mobile app.


Limited customer service phone hours. Vanguard offers extended daytime hours of 8 a.m. to 8 p.m. Eastern time for phone customer service, but there are no weekend hours.

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.