What idle cash in your brokerage account is costing you
My $ sits in .
It earns — a year.
In Treasury bills it would earn —.
Benchmark: 3-month Treasury bill at 3.70%, from the U.S. Treasury's daily yield curve for October 21, 2026. Most brokers sell T-bills and Treasury money market funds commission-free. Rates move; check yours before moving money. Not investment or tax advice.
Sweep rate board
What each broker pays by default on uninvested cash, and what that costs on a $250,000 balance compared with 3-month Treasury bills at 3.70%. Lowest first.
| Broker and default option | Default rate | Earns on $250k a year | Lost vs T-bills a year | Better move |
|---|---|---|---|---|
| Merrill EdgeMerrill Lynch Bank Deposit ProgramBroker's page, checked October 20, 2026 | 0.01%Under $1M; 0.05% from $1M | $25 | $9,225 | A Treasury money market fund such as TTTXX (3.83%) or TSTXX (3.80%), bought manually |
| Charles SchwabBank Sweep / Schwab One InterestBroker's page, checked October 22, 2026 | 0.01%All balances | $25 | $9,225 | A Schwab money fund such as SWVXX (3.71%), bought manually |
| E*TRADE (Morgan Stanley)Bank Deposit ProgramBroker's page, checked October 23, 2026 | 0.01%Under $500k; 0.05% to $1M | $25 | $9,225 | A Morgan Stanley government money market fund, bought manually |
| Morgan Stanley Wealth ManagementBank Deposit Program (brokerage accounts)Broker's page, checked October 23, 2026 | 0.01%Under $500k; advisory accounts get 3.85% from $250k | $25 | $9,225 | MGPXX government money fund (3.51%), or ask whether an advisory account qualifies for the higher rate |
| Wells Fargo AdvisorsBank Deposit SweepBroker's page, checked October 23, 2026 | 0.02%Household assets under $1M | $50 | $9,200 | A money market fund bought manually; advisory accounts may get higher rates, so ask |
| Fidelity IRA (FDIC sweep option)FDIC-Insured Deposit Sweep ProgramBroker's page, checked October 22, 2026 | 1.96%All balances, if chosen as the core position | $4,900 | $4,350 | Switch the core position to SPAXX or a Treasury money fund |
| Fidelity (SPAXX core position)SPAXX, Fidelity Government Money MarketBroker's page, checked October 21, 2026 | 3.52%7-day yield | $8,800 | $450 | Already close to T-bills; a Treasury-only fund can win after state tax |
| VanguardVMFXX, Vanguard Federal Money Market (settlement fund)Broker's page, checked October 21, 2026 | 3.83%7-day SEC yield | $9,575 | -$325 | Already close to T-bills; a Treasury-only fund can win after state tax |
How we check every number
A rate goes on this site only if we can point to where it came from. If we can't, the row stays hidden.
Official data first
Treasury yields come straight from the U.S. Treasury's daily yield curve, pulled automatically every weekday evening. A rate that jumps more than a full point overnight is held back until it's confirmed.
The broker's own page
Sweep rates are read from each broker's published rate sheet or disclosure. News articles and forums tell us something changed; they are never the source of the number.
No paid placement
No broker or bank on this page pays us today. If one ever does, it will say so next to the row, and the order won't change.
The weekly rate note
One short email when something worth moving money for changes: a sweep cut, a Treasury move, a bank that quietly dropped its rate. Nothing on quiet weeks.