What is a sweep account? Discover it can optimize your finances. Learn more about optimizing cash flow & take control of your ...

Cash management accounts typically have higher FDIC insurance coverage limits than you'd otherwise receive with a single bank account since your money is swept into partner bank accounts.

However, your bank likely has other coverage and protections ... $250,000 of your cash deposits covered by insurance. If you want to deposit larger amounts, the key is to spread the money around ...