Wealthfront


Overview / Commentary
844-995-8437
900 Middlefield Rd
Redwood City, CA 94063

Related Posts

Wealthfront Rate Drop - 3/17/2020

On Sunday, the Fed lowered the federal funds rate by 1.00% in the second surprise rate cut this month because of the coronavirus COVID-19’s continuing impact on economic activity. As a result, we need to lower the interest rate (APR) on our Cash Account by 1.00%, which translates to an APY decrease of 1.01%. This means the APY on your Cash Account is now 0.26%.

Wealthfront Dropped Rates To 1.27 - 3/5/2020

The Fed lowered interest rates this week by 0.50%, which means we need to lower the rate on your Wealthfront Cash Account. We’re decreasing our interest rate (APR) by 0.50%, which, due to compounding, translates to an APY decrease of 0.51%. This means beginning today, the APY on your Cash Account is changing from 1.78% to 1.27%. What does this mean for me? This decrease means that for every $1,000 in your Cash Account, you’ll earn $5.10 less in annual interest. Even with this change, we continue to get you the highest rate we possibly can — over 14x the national average*. Your other benefits remain the same — unlimited transfers, no fees and FDIC insurance for up to $1 million through our partner banks. Why did the interest rate change? The rate we can offer is based on the federal funds rate. On Tuesday, two weeks before its next scheduled meeting, the Fed lowered the target range for the federal funds rate by 0.50% to 1%–1.25% because of risks posed to the U.S. economy by the coro

Cash Account Now Down To 2.07% - 9/20/2019

The Fed drops a quarter point, so does Wealthfront. Now at 2.07% APY

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Reviews (2)

Great Bank

Posted by: |

I have an Ira and an high yield savings accounts with Wealthfront. I had a joint investment fund but I closed it and used the money to buy my house. Wealthfront has a great retirement net worth tool that I see every time I log in!! Shows me how much I will have at retirement and gives me advice. They are the most transparent bank I ever had. And I’ve had Usaa, Bank of America, Suntrust ,citizens access and still use capital one.
I’ve had zero issues and really can see myself never leaving this bank. Just for the app alone!!

They have a referral system too for there investments. 5k managed free for joining with a referral code. If interested din trying join and get 5k additional invested for free. https://wlth.fr/2EN5Y03

Wealthfront Cash Account

Posted by: |

Wealthfront Cash Account reviewers seem to be unaware of restrictions WF imposes on "new accounts" when transferring funds between external banks. This is not surprising since WF doesn’t seem very forthcoming on these restrictions.

While WF Cash prominently advertises unlimited ACH withdrawals as one of its cash account features, when actually used, Wealthfront only permits ACH-Push withdrawals to the external account which originally funded the WF account. Withdrawals to other linked external accounts are "rewritten" by WF to direct withdrawals to the external account which funded the WF Cash account.

This essentially turns the WF Cash account into a no-penalty CD account rather than a useful financial management tool.

WF was vague as to how long these "new account" restrictions would remain in-effect for but cited timeframes in terms of "months".



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Wealthfront Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$1$1mCash Account
Locations

Wealthfront is an Internet only bank and does not have branch locations. Its headquarters is located at 900 Middlefield Rd - Redwood City, CA 94063

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