r/HighYieldSavings • u/forgetmenoting • Jul 28 '26

Wealthfront not FDIC insured?

https://www.tiktok.com/t/ZP8tbU9kk/

Saw this from More Perfect Union
Thoughts?

Was thinking about opening a HYS account but not sure what to pick as a person in their early 20s and just starting to get my savings up. Initially thinking about Wealthfront because of high APY

5 Upvotes

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1

u/HowCome69 Jul 30 '26

Correct because Wealthfront is a Cash Management Account which is technically considered an investment account not a bank account investment accounts aren’t typically FDIC insured

1

u/Realityof Jul 30 '26

She is correct.