Sweep vehicle options for corporate accounts

Discussion in 'Online Brokers' started by garyw, Jun 5, 2018.

  1. garyw

    garyw Well-Known Member

    Desiring to compare notes:
    One of my accounts at TD Ameritrade is a Sub-chapter S corporate account. The only FDIC Insured option available for a cash sweep vehicle is their TDA Cash sweep @0.01% for corporate accounts (regardless of cash balance)! -- Non-corporate accounts have additional options up to a tad over 0.3% (a function of cash in the account).
    I would like to know if someone with a corporate account is getting better FDIC insured rates on a cash sweep!
  2. Steve S

    Steve S Well-Known Member

    Forget FDIC ... go for the money market sweep. For the entity accounts they force you into the government fund at about 1%, for personal accounts you can get another 20-30 bps.
  3. garyw

    garyw Well-Known Member

    Last time I did that with TDA, My funds were frozen for years! The loss was understandable with the Lehman mess, but the inability to access my "safe" remaining funds was unacceptable. -- I need to loose a few more memory cells before ready to try that again.
    Mark17 likes this.

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