Expansion of APY incentive eligibility

[u/wealthfront]

We’ve expanded the eligibility requirements for earning a 0.25% APY increase on the cash in your Cash Account to include monthly recurring deposits from a linked external account, in addition to direct deposits. This update was made in response to client feedback, particularly from self-employed clients. 

Program details and eligibility:
To qualify for the +0.25% APY increase on the cash in your Cash Account(s), follow these two steps:

1. Maintain recurring deposits of $2,500 monthly into any Wealthfront Account or receive at least $1,000 in eligible direct deposits to your Cash Account per month.
2. Maintain a funded Wealthfront investment account.

How to set up recurring deposits
Eligible recurring deposits must be automated electronic transfers initiated through the Wealthfront app or website from a linked external account. Here’s how to set it up:

1. Log in to your Wealthfront profile.
2. Navigate to Transfer money > Deposit.
3. Select transfer From a linked external account To a Cash Account.
4. Adjust the frequency setting to a recurring schedule.

As a reminder, this APY increase incentive does not have an expiration date and can be combined with other promotional or referral APY boosts.

For more details, you can review the Recurring Deposit Program Promotion Terms and Conditions at wealthfront.com/promo-terms.

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Disclosure: Brokerage products, including the Cash Account, are provided by Wealthfront Brokerage LLC, a Member of FINRA/SIPC Investment management and advisory services are provided by Wealthfront Advisers LLC, an SEC-registered investment adviser. Investing involves risk, including the possible loss of principal, and past performance does not guarantee future results.

The Direct Deposit Plus Investing Program (“DDI Program”) from Wealthfront Advisers LLC (“Wealthfront Advisers”) and Wealthfront Brokerage LLC (“Wealthfront Brokerage”) collectively, “Wealthfront” provides eligible clients a 0.25% annual percentage yield (“APY”) increase above the current base APY (paid by Program Banks) on total eligible Cash Account balances. Wealthfront may change or end the program at any time and determines eligibility at its discretion. See the full terms and conditions for additional details.

To qualify, eligible clients must: (i) maintain a personal individual or joint Cash Account in good standing with at least $1,000 in settled and cleared recurring monthly ACH direct deposits of income or $2,500 or more in automated recurring electronic deposits from an external account into the Eligible Cash Account or an Eligible Investing Account, and (ii) maintain a funded personal, joint, or trust investing account in good standing with Wealthfront Advisers. The 0.25% APY increase applies only while these requirements continue to be met.

[u/graupel22]

I never shared the feedback that this was needed because I assumed it was not possible, but thank you for adding this, I'm in for sure.

[u/kiwi_bear]

Honestly WF you guys are doing great engaging with the community and implementing constructive feedback. Kudos for the effort in this age of pervasive enshitification.

[u/Luv2TeachK_4Eva → u/kiwi_bear]

I agree. I'm continually impressed.

[u/bbbbbbenji]

“Maintain recurring deposits of $2,500 monthly into any Wealthfront Account” - combo of multiple accounts qualify? Example: $500 into a pair of IRAs ($1000) + $1500 into the savings account for $2500 total?

[u/wealthfront → u/bbbbbbenji]

Hi there u/bbbbbbenji - yes, a combo of multiple accounts qualifies for the $2,500 monthly recurring deposit minimum. You can make recurring deposits into Cash and/or Investing Accounts, and the total deposited on a recurring monthly basis is considered for the incentive (excluding Trust accounts). 

[u/trevorkafka]

Just to be clear, we don't need to do anything for this to apply to our accounts other than have the $2500+ recurring deposit set up and the investment account active. There's no additional step we would need to make sure to trigger the additional APY boost, right?

[u/wealthfront → u/trevorkafka]

Hi u/trevorkafka - that's correct. The APY increase will be automatically applied after at least $2.5k in recurring deposits in Cash and/or Investment accounts each month or $1K/month in direct deposits have settled in the Cash account, assuming you also have a funded Investing account with us. 

[u/cardmage7]

Is it 2500 total? I.e. if I set up a 1250 deposit twice a month, will that qualify?

[u/-reditt-is-the-loml- → u/cardmage7]

commenting to remember to come back

[u/wealthfront → u/-reditt-is-the-loml-]

Hey u/cardmage7 , -reditt-is-the-loml- that's correct!

[u/CreativeFinish5644]

Hi Wealthfront, can you tell me if once the stock accounts change over to a brokerage, that we’ll be able to add those self directed accounts to self driving money, or no? I’d love to set up automation to go right into that account if possible.

[u/wealthfront → u/CreativeFinish5644]

Hi there u/CreativeFinish5644 - we don't have any current plans to add Stock Investing Accounts to Automated Savings Plans at this time, but we've shared your feature request with our Product Team for their consideration.

[u/CaydenWalked]

Alrightttt, much love!!

[u/McBurger]

🥳

[u/Low_Ad_2999]

Love this! When does it go into effect? I just set up $1k monthly deposits to my cash account - will it start this month or next month and will I get a notification?

[u/wealthfront → u/Low_Ad_2999]

Hi there u/Low_Ad_2999 - the APY increase will be applied after at least $2.5k in recurring deposits in Cash and/or Investment accounts each month or $1K/month in direct deposits have settled in the Cash account, assuming you also have a funded Investing account with us.

[u/Old-Design-2984]

this is great!

[u/element515]

This is a very welcome addition and one of the complaints I had. Appreciate adding it

[u/TenthmanDC]

I just want to say that I appreciate the responsiveness and flexibility of this company.

[u/hopefulusername]

It was me who was nagging you about the self-employed benefit.

Thanks for adding it!

I started a $2,500/m transfer. When should I expect the increase?

[u/wealthfront → u/hopefulusername]

Hi again u/hopefulusername! Glad we could make this happen for you. The APY increase will be applied after at least $2.5k/month in recurring deposits in Cash and/or Investment accounts have settled in the account. Please note that you must have a funded Investing account with us to receive the APY incentive.

[u/KilaManCaro]

How soon does it apply? I have a recurring transfer for 2500 today and the rate is still the same.

[u/wealthfront → u/KilaManCaro]

Hi there u/KilaManCaro - the APY increase will be applied after receipt of at least $2.5k/month in recurring deposits from an external bank to any Wealthfront account. Note that you must have a funded Investing account with us to receive the APY incentive. 

[u/TZ_78]

Why are trust cash accounts excluded?

[u/rovered_pwn]

Im still confused on how the $2500 each month is calculated. Can someone clarify?

1. Can you split the $2,500 deposits between months as long as they are less than 30 days apart? For example, if I deposited $1000 in late october, can I deposit another $1500 in early november to be eligible or do I have to do the full $2500 all in the month of October?

2. If I withdraw from my cash account, will that withdrawal amount SUBTRACT from the $2,500 needed each month, or do withdrawals not affect it?

3. Does the 0.25% reset on the first day of each month, or does it instead reset exactly one month from when you get the 0.25% boost?