Vanguard Cash Plus Review 2026: Online Cash Management Account
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Overview
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The Vanguard Cash Plus Account offers a high interest rate and federal insurance up to $1.25 million for individual accounts (and $2.5 million for joint accounts). It’s a cash management account, a product which provides the services and features of checking and/or savings accounts, but these accounts are typically offered by brokerages, not banks. Brokerages sweep customer deposits into accounts at partner banks behind the scenes to provide insurance coverage.
» Want to check out other cash management accounts? See NerdWallet's list of the Best CMAs
Reviewed in: May 2026. Period considered: May 2026.
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Offers a solid 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.
Limited customer support hours.
Product reviews
Cash management
Benefits
High interest rate. With a rate of 3.35% APY, the Vanguard Cash Plus Account is comparable to the rates found on many high-yield savings accounts.
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.
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.
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.
Option to invest cash in safe investments. In addition to putting cash into third-party banks, Vanguard’s cash management account also lets customers invest in money market funds, which are mutual funds where cash is put into low-risk, short-term investments such as U.S. Treasurys.
Things to consider
No way to withdraw or deposit physical cash, and no check writing. The only way to withdraw money from the Vanguard Cash Account is through online transfers using your routing and account numbers. To add money, there are three ways: online transfers, direct deposits and mobile check deposits.
» Want to explore other checking options? Check out NerdWallet’s best checking accounts.
Vanguard Cash Plus Account - Paid non-client promotion
Customer experience & overdraft fees
Customer experience
Benefits
Mobile check deposit available. Customers enrolled in Vanguard Cash Plus are able to fund their account with the Vanguard mobile app.
Things to consider
Limited customer 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.
No chat support. Customers who want assistance will need to call the customer phone support line.
Mixed mobile app ratings. Vanguard’s mobile app has a solid overall rating in the Apple app store, but a much lower rating in the Google app store.
Rating methodology
NerdWallet’s overall ratings for cash management accounts are weighted averages of account features and customer experience. Factors we consider, depending on the category, include rates and fees, ATM access, availability of cash withdrawal and limits, user-facing technology, customer service, overdraft programs and innovation. The stars represent ratings from poor (one star) to excellent (five stars). The ratings are incremented in tenths of a star.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.