BEST OF

4 Best Cash Management Accounts of 2024

Chanelle Bessette
By Chanelle Bessette 
Edited by Sara Clarke

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The best cash management accounts pay interest and typically come with low or no fees. They're usually offered by brokerage firms and combine services and features similar to those of checking, savings and/or investment accounts, all in one product.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

Interest rates for the best cash management accounts are much higher than the national average savings account APY, currently just 0.46%.

To provide federal insurance, cash management account providers typically work with partner banks. CMA providers sweep customer deposits into partner bank accounts, where the funds benefit from the bank’s Federal Deposit Insurance Corp. insurance.

These brokerage savings accounts can offer an alternative to traditional savings accounts. They can be a good option for people seeking high interest rates and some robust features. Here’s our look at the top cash management accounts.

» Want to learn more about the basics of cash management accounts? Check out NerdWallet’s guide to CMAs.

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Best Cash Management Accounts

Our pick for

Cash Management Account

NerdWallet rating 

4.5

/5
Wealthfront Cash Account
Learn more

at Wealthfront

Monthly fee

$0

APY

5.00%

Bonus

$60

NerdWallet rating 

4.5

/5
Betterment Cash Reserve – Paid non-client promotion
Learn more

at Betterment

Monthly fee

$0

APY

5.50%

Bonus

N/A

NerdWallet rating 

4.0

/5
Empower Personal Cash
Learn more

at Empower, Deposits are FDIC Insured

Monthly fee

$0

APY

4.70%

Bonus

N/A

NerdWallet rating 

5.0

/5
Fidelity Cash Management Account
Monthly fee

$0

APY

2.72%

Bonus

N/A

Last updated on January 26, 2024

To recap our selections...

NerdWallet's Best Cash Management Accounts of 2024

Frequently asked questions