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You misunderstand, the cash in these accounts are kept in an FDIC sweep, so it's FDIC insured.
by astura 7y ago
You misunderstand, the cash in these accounts are kept in an FDIC sweep, so it's FDIC insured.
- acjohnson55 7y agoIt's often true that the funds aren't covered until they're in the custody of the partner bank. This is the case for some of the neobank cash accounts. Not sure about Schwab tho.