Wealthfront is a financial services company that offers a variety of investment products to help individuals achieve their financial goals. One of the services they offer is a cash account, which allows individuals to earn interest on their cash balances. Recently, Wealthfront announced that they will be increasing the APY (annual percentage yield) on their cash account to 4.3%, which is significantly higher than the average interest rate offered by traditional banks.
In this blog post, we will discuss the benefits of keeping your money in a Wealthfront cash account and the advantages of using a referral code to increase your APY even further.
Why Keep Your Money in a Wealthfront Cash Account?
There are several reasons why you might want to consider keeping your money in a Wealthfront cash account:
- High Interest Rates: As mentioned earlier, Wealthfront offers an APY of 4.3% on their cash accounts, which is much higher than the interest rates offered by traditional banks. This means that your money will be working harder for you, and you will be earning more interest on your cash balances.
- FDIC Insurance: Wealthfront cash accounts are FDIC-insured up to $2 million, which means that your money is protected in the unlikely event that something happens to the company.
- Easy Access to Your Money: Unlike some other investment products, cash accounts offer easy access to your money. You can withdraw your cash at any time without penalty, which makes this a great option for individuals who need to access their cash quickly.
- No Fees: Wealthfront cash accounts have no account fees, which means that you can earn interest on your cash balances without worrying about hidden costs eating into your returns.
Using a Referral Code to Increase Your APY
In addition to the high interest rates and other benefits of keeping your money in a Wealthfront cash account, you can also increase your APY even further by using a referral code. Wealthfront offers a referral program that rewards both the referrer and the person being referred.
Here’s how it works:
- If you sign up for a Wealthfront cash account using a referral code, you will receive an additional 0.5% APY on top of the 4.3% already offered.
- The person who referred you will also receive an additional 0.5% APY for as long as you keep your money in the account.
- There is no limit to the number of people you can refer, which means that you can continue to earn additional APY for each person you refer to Wealthfront.
- To participate in the referral program, you simply need to sign up for a Wealthfront cash account using a referral code provided by someone who already has an account.
By using a referral code to sign up for a Wealthfront cash account, you can earn a higher APY and help your friends and family earn more interest on their cash balances as well.
Conclusion
If you’re looking for a way to earn a higher interest rate on your cash balances, a Wealthfront cash account may be a great option for you. With an APY of 4.3% and FDIC insurance up to $1 million, this account offers high returns and peace of mind.
By using a referral code, you can increase your APY even further and help others earn more interest on their cash balances as well. So if you’re interested in earning more on your cash balances, consider signing up for a Wealthfront cash account today.