Banking

What is a cash management account?

July 30, 2025No Comments1 Min Read

Feature	APY	Minimum deposit	Monthly fee
Wealthfront Cash Account	4%	$1	None
Aspiration Save Account	Aspiration: 1% on balances up to $10,000 with $500 in monthly debit card spend, with 0% on funds over $10,000. Aspiration Plus: 3% on balances up to $10,000 with $500 in monthly debit card spend, with 0.25% on funds over $10,000. Different APY structure exists when spend requirements are not met.	$10	Aspiration: Choose your own fee, even if it’s $0 Aspiration Plus tier members: $5.99 per month, billed annually
Betterment Cash Reserve account	4.00%	$10	None
Empower Personal Cash account	3.75%	None	None
Fidelity Cash Management Account	2.21%	$0	None

The promise and peril of programmable payments