5 Best Cash Management Accounts of 2026

The Betterment Cash Reserve cash management account has a promotional rate of 4.00% annual percentage yield for new account holders. To earn that rate, you have to make a deposit within 14 days of opening the account. If you don’t, or after the promotion ends, your rate will be a still-competitive 3.25%.

The Cash Reserve account and the companion Betterment Checking account have no management fees on cash and no minimum balance requirements beyond the $10 it takes to earn interest. Individual accounts receive up to $4 million in FDIC insurance coverage on eligible cash through partner banks, and joint accounts receive up to $8 million. Betterment Checking offers a debit card, mobile check deposit and reimbursement of ATM fees worldwide.

To learn more, read our full review of Betterment Checking and Betterment Cash Reserve.

Betterment says: "Annual percentage yield (variable) is 3.25% as of 12/12/25, plus a 0.75% boost (“APY Boost”) on balances up to $1M for new clients with a qualifying deposit. $10 min deposit for base APY. Terms apply (betterment.com/boost); if the base APY changes, the Boosted APY will change. Cash Reserve offered by Betterment LLC and requires a Betterment Securities brokerage account. Betterment is not a bank. Learn More (https://www.betterment.com/cash-portfolio). "

Betterment says: "Checking account is FDIC insured up to $250K through nbkc bank, Member FDIC. FDIC insurance only covers the failure of an insured bank. Betterment is not a bank. All ATM fees and the Visa 1% foreign transaction fee are reimbursed. The Betterment Visa Debit Card is issued by nbkc bank, Member FDIC."

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Empower Personal Cash offers a 3.00% APY as well as robust budgeting features through its solid mobile apps. It also has no fees or minimum balance, which means it’s a pretty low-cost way to earn a high interest rate. Keep in mind, however, that Empower Personal Cash currently doesn’t support cash deposits, cash withdrawals or check writing. Electronic transfers, wire transfers and direct deposits, however, are supported.

Read our full review of Empower Personal Cash to learn more.

The Vanguard Cash Plus account offers a solid interest rate of up to 3.35% APY – a baseline rate of 3.10% APY and a temporary 0.25% APY Boost – with no minimum balance requirements. The account has no fees as long as you sign up for e-statements; otherwise, the account has an annual fee of $25. Customers can get up to $1.25 million in FDIC insurance on individual accounts through partner banks, and joint accounts can get coverage of up to $2.5 million.

Keep in mind that this account doesn’t offer a debit card, and there’s no way to withdraw or deposit physical cash. Customers can add money via direct deposit, mobile check deposit and online transfers.

Read our full review of the Vanguard Cash Plus Account.

Reviewed in: May 2026. Period considered: May 2026.

Fidelity Cash Management Account has a lower interest rate compared to the other accounts on this list, but it gets a high rating from us for its other features. The account has no monthly fees or minimum balance requirements, and it offers unlimited ATM fee reimbursement worldwide and free check writing. Customers can spend and withdraw money with a debit card, and they can add money to their account through direct deposit, online transfer, mobile check deposit or a wire transfer. The account carries FDIC insurance of up to $4 million through Fidelity’s partner banks.

For more information, read our full review of Fidelity Cash Management.