Is the Charles Schwab cash sweep rate good?
No. It pays close to nothing, and cash left there earns a small fraction of what Treasury bills pay.
Charles Schwab's default home for uninvested cash, the Bank Sweep / Schwab One Interest, pays 0.01% (All balances), according to the broker's own page, checked October 22, 2026. Three-month Treasury bills pay 3.70%. On $250,000, that's $25 a year in the sweep versus $9,250 in T-bills: $9,225 a year left on the table before tax.
What to do instead: A Schwab money fund such as SWVXX (3.71%), bought manually. Cash you buy into a fund stays in the same account; you sell it when you need it.
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.
Compare with other brokers
See every broker's default sweep rate, each checked against the broker's own disclosure.
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.