Cash management accounts are held at non-bank financial institutions (NBFIs), investment firms, fintechs, payment processors, or brokerages. Generally, those needing cash management accounts have other investments housed at these depositories, such as stocks, bonds, mutual funds, certificates of deposit (CDs), or Individual Retirement Accounts (IRAs). Cash management accounts can be set up for personal or business use, depending on your needs.
This product is used as an all-in-one general account that simultaneously acts as a checking account and a savings account. Most cash management accounts allow for deposits, withdrawals, debit card transactions, and the use of bill pay. Each institution has its own perks and benefits. It’s also a good way to monitor larger investments by linking cash management and investment accounts together through online portals.
Here is a list of the best seven cash management accounts for 2025:
- Best overall for businesses of all sizes, from startups to large corporations: Ramp
- Best for high-growth startups with substantial cash reserves: Mercury
- Best for startups, growth-stage businesses, and world-class enterprises: Rho
- Best for businesses operating online, eCommerce marketplaces, or those collecting peer-to-peer payments: Stripe
- Best for business and personal investors looking for a cash management account to keep investment funds and spendable funds separated: Fidelity
- Best for individuals searching for a high-yield cash management account for short-term investments: Vanguard
- Best for individuals looking for an account with a high FDIC deposit limit across partner relationships and high APY: Wealthfront
Best seven cash management accounts quick comparison
| If you’re searching for a fintech for general business banking needs and also looking for interest-earning options, you may want to consider Bluevine. For a full roundup of its features, you can read our Bluevine Business Checking Review. |
Ramp: best overall for businesses of all sizes, from startups to large corporations
Ramp Treasury is my top overall pick for a business cash management account with all the bells and whistles. It’s a unique account that allows investors to cut the wait time down significantly without the high fees. Many cash management accounts offer speed or no fees. With Ramp, you don’t have to choose. Compromise is not an option. It also has fully integrated workflows every step of the way and plenty of software integrations to make financial management a breeze.
Why I chose it
Ramp pays one of the highest APYs with the lowest risk on its cash management account. Currently, this rate is at 2.5% and is FDIC-backed by First Internet Bank of Indiana.
It also has no fees, no minimum deposits, no transfer caps, unlimited ACH, and it can be linked to your investment accounts so you can see and manage all your finances from one login. Due to its relationship with partner banks and the Insured Cash Sweep (ICS) service provided by IntraFi, FDIC coverage can be extended up to tens of millions of dollars per depositor, as stated on its website.
Features
- Free unlimited ACH
- High FDIC coverage through the ICS/IntraFi program
- High APY without risky investments
- Easy funds transfer through online portal
- Automatic alerts when funds are low or if the current balance will not cover bills
- Integrates with Ramp corporate cards
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Mercury: best for high-growth startups with substantial cash reserves
Mercury Treasury is a cash management solution designed for businesses looking to invest in an automated low-risk program. It requires $500,000 to get started. Once the account is open, investments can be made in high-liquidity mutual funds, earning competitive yields. This type of investment ensures the funds are available for withdrawal as needed while earning interest when not in use. This is a great way to put excess capital to work for the benefit of the company.
Why I chose it
As a banker, I recommend Mercury for a number of reasons. First of all, it is a very solid fintech with a great reputation. The cash management program is called Mercury Treasury. Funds deposited in this program are invested in lower-risk mutual funds that can be accessed at any time working capital is needed. Some withdrawals are even available on the same day the request is made.
This program can be linked to other deposit accounts at Mercury, such as business checking and savings, for seamless transfers. Most cash management users are looking to house additional funds at the financial institution of choice so Mercury is a great fit with robust offerings and low fees.
There are no fees to open an account or transact with Mercury Treasury. Users are charged a small percentage of their total monthly Mercury Treasury positions at a rate determined by the total deposits held across all your Mercury accounts, ranging from 0.15% to 0.6%.
Features
- No direct management fees are charged
- Online banking integrated to show cash management and other Mercury accounts
- Withdrawals are allowed at any time
- Investment totals can be adjusted as business needs change
- Mutual funds are typically backed by the US Treasury
- Automatic transfers can be set up to move profits to alternate accounts
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| Mercury is one of the few providers on this list that will allow you to open a general business bank account in addition to a cash management account. If you are deciding between accounts and wondering if you need a business bank account and a cash management account, it’s best to assess the specific needs of your business. |
Rho: best for startups, growth-stage businesses, and world-class enterprises
The Rho Treasury account is a cash management depository product that invests funds into U.S. Treasury Bills so your business dollars can earn a yield while on deposit but not in use. If you need to make a withdrawal from your account, Treasury bills can be sold before maturity at market prices, giving you access to the funds within two to three business days.
Why I chose it
I included Rho in the best cash management list due to the type of investment it offers, which has one of the highest yields available on the market today. Many different business models can qualify for Rho Treasury. This is a great fit for startups, mid-sized businesses, and large business models.
Being a Rho customer comes with perks and rewards. It offers discounts on over 38 different software platforms when you open new accounts. There are also features to help you access the Rho partner portal when you need to grant access to a bookkeeper or accountant. The main downside is the high $500,000 deposit required to get the account started; however, the high interest payout with the Treasury bills makes the account worthwhile.
Features
- Treasury bills are backed by the US government
- Online portal shows earnings, balances, holdings, and current yields in real time
- Capital can be moved between Rho Treasury, Rho checking and savings accounts at any time
- Treasury management can be automated
- Short-term investments available for faster liquidity
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Stripe: best for businesses operating online, ecommerce marketplaces, or those collecting peer-to-peer payments.
Stripe cash management is a financial solution for online businesses that allows payment collection by embedding Stripe API and software designed to capture revenue on online sales sites. This service also comes with an array of online cash flow tools, including invoicing and automatic subscription payments. It allows businesses to store funds in their account until needed or set up automatic transfers to move the funds seamlessly into a different account.
Why I chose it
As a long-time banker, I recommend Stripe cash management to businesses that need to integrate software into their online store or website for payment processing. This also helps by reducing the number of banking relationships needed to collect funds since Stripe provides an all-in-one cash management solution. It can also be automated to transfer funds to a different bank at certain thresholds or when specific actions occur within the account.
In general, Stripe cash management is a great option for businesses operating in the online space or those working one-on-one with clients who need an easy method to collect payments for services rendered. Stripe does charge a small fee when transactions occur. However, this charge is minimal compared to what it would cost to have alternative software embedded in a sales site by a developer, coupled with the fees owed to the processor that’s being used.
Features
- Payouts as early as two to three business days
- Refunds can be issued from the main dashboard
- High-tech fraud features using encryption for payment processing
- Payouts can be stored with Stripe until needed
- Automatic transfers can be set up to make money management seamless
- 24/7 email, chat, and phone support
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Fidelity: best for business and personal investors looking for a cash management account to keep investment funds and spendable funds separated
The Fidelity Cash Management Account offers two competitive options for businesses and personal investors depositing spendable cash. The options include the Fidelity® Government Money Market Fund and the FDIC-Insured Deposit Sweep Program. Both of these programs offer competitive interest-earning options that are above the traditional checking account yields. It also offers online access so users can take advantage of bill pay and mobile check deposits.
Why I chose it
This cash management account is multi-purpose, allowing businesses and individuals to invest with no account fees and minimum balance requirements. It’s also covered by the Customer Protection Guarantee, which protects against unauthorized activity.
This account makes saving for emergencies or short-term financial goals easier with real-time insights by accessing the online portal or by using the Fidelity mobile app. It also offers unlimited ATM reimbursement, which is important for business owners who need access to ATMs on a regular basis.
Features
- Unlimited ATM reimbursement
- Competitive rates
- No account fees
- No minimum balance requirement
- Debit card access for easier spending
- Automatic transfers
- Direct deposits are accepted
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Vanguard: best for individuals searching for a high-yield cash management account for short-term investments
The Vanguard Cash Plus Account has two different investment options for short-term cash deposits. You can pick between the bank sweep program that’s FDIC insured up to $1.25 million for individual accounts and $2.5 million for joint accounts, or you can diversify into five Vanguard money market funds insured by SIPC up to $500,000.
Why I chose it
The Vanguard Cash Plus Account is strictly designed for personal use. All the features are geared towards helping individuals make the most of their investment options by providing different deposit options while keeping fees to a minimum.
This account is also compatible with direct deposit transactions and has an online portal available for bill pay purposes. The best part about this account is the fee structure. Nearly all account actions are fee free, allowing business owners to make the most of their financial investment while still earning a high APY.
Features
- $0 to open an account
- $0 minimum balance
- $0 account service fees if you sign up for e-delivery
- $0 to transfer between Vanguard accounts
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Wealthfront: best for individuals looking for an account with a high FDIC deposit limit across partner relationships and high APY
Wealthfront has an exceptional cash management account that offers up to $8 million in FDIC insurance on individual accounts and up to $16 million on joint accounts. This is possible due to a large partner network, including 32 partner banks. This account also has no withdrawal limits, and transactions can be made every day, including weekends and holidays, with no fees.
Why I chose it
The Wealthfront Cash Account allows for free withdrawals 24/7 using online account access. There are no minimum balance requirements in order to earn a monthly APY. Balances as low as $1 are eligible to earn interest as it accrues daily while compounding monthly.
This account also charges no fees, offers free wire transfers to your own accounts or title and escrow accounts, and up to $7.50 monthly in ATM fee reimbursements. An additional feature is the option to create cash categories allowing you to segregate funds for special projects or to create a rainy day fund.
Features
- Pay bills using checks or routing numbers
- Mobile deposit for easy funding
- 19,000 Free ATMs nationwide
- Transfer to investment accounts from the mobile app
- Automate transfers to savings using recurring transfers
- Cash categories can be set up to keep saving goals separated
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How to choose the best cash management banks
The best cash management banks will have insurance options available for your financial security, such as FDIC or SIPC coverage. This gives you peace of mind to invest without fear of losses. The account should also have APY earning options and provide a means for easy withdrawals.
Depending on your business model, you may also need access to debit cards, ATMs, bill pay, and wire transfers. Comparing the options along with the benefits and perks of each financial institution will ensure you choose the best account for your business.
Methodology
In order to compile this list of the best cash management accounts, I considered the following account options:
- Account use: Business or personal
- FDIC or SIPC insurance coverage
- Expanding coverage through partner relationships
- APY paid on deposits
- Fees charged for transactions
- Minimum opening deposits
- Daily withdrawal limits
- Automated transfers
- Online security
- Type of financial institution: fintech, brokerage, investment firm, or payment processor
- Pros and cons of each program
Based on these parameters, I found seven cash management accounts that fit this criteria. The accounts listed can be used for business and personal accounts. All the accounts have security features that help keep them safe and protect funds in case of financial institution failure or loss.
Frequently asked questions
How do cash management accounts work?
A cash management account is offered by a non-bank financial institution such as a fintech, brokerage, investment firm, or payment processor. The account has the capabilities of a checking account allowing deposits and withdrawals along with the interest options of a savings account.
What eligibility criteria do you have to meet to apply for a cash management account?
Every financial institution has its own guidelines regarding eligibility. Some require you to also have an investment account in order to open a cash management account, while others allow sole cash management accounts to be opened.
In general, the qualifications are the same as a bank regarding legal business requirements such as a tax identification number, entity type, and beneficial owners. Personal accounts will also require legal documentation, such as a driver’s license and other personal identifiers.
What is the difference between a brokerage account and a cash management account?
A brokerage account is an investment account that allows you to buy and sell securities such as stocks, bonds, and mutual funds. Brokerage accounts typically have withdrawal guidelines and are best suited for long-term investments.
A cash management account is a place to house excess cash for daily use. These deposits are considered short-term investments and generally have open withdrawal guidelines along with debit card use and bill pay options available to move funds.
What are the advantages of using a cash management account over a traditional checking account?
Most cash management accounts come with higher APY and investment options allowing your funds to earn dividends while allowing daily withdrawals. Typical checking accounts generally have lower interest-earning options and can charge fees when falling below a minimum balance, depending on the program.
What are the best ways to monitor the performance of a cash management account?
The best way to monitor a cash management account is to sign up for online access through the financial institution’s website or by using a financial management app on a mobile device. This allows you to keep up with activity in real time avoiding any kind of funds shortfall while monitoring financial growth.
