US Treasuries are now a low if. 25%, Wells Fargo interest rate is. 2% and my Schwab broker just wrote me theirs is 1/100% per year. The current brokerage account needs a minimum $36000 CASH to earn 1 cent.
Schwab has changed the account three times now as to where your money should be for the best interest. I have earned 1 cent for the year with my $6000 average cash account. Yes, interest rates are low, but 1 cent?
So, don't assume Schwab is guarding your cash. They aren't doing any guarding for you. Do it yourself elsewhere.
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