Does Merrill Edge pay interest on uninvested cash as of December 2024?
If you have uninvested cash lying around on your brokerage account, you should make it work for you in a low-risk way instead of letting it lose value. Many brokers now offer meaningful interest on your idle cash.
'Conditions may apply': check the fine print for receiving interest
The interest you can earn on uninvested cash in your brokerage account may vary depending on different factors, so you should always check the exact conditions that apply.
The most frequent factors that usually influence the rate you will get are account type, minimum balance requirements, and account size, for example.
Below you can find all the information we have on cash interest at Merrill Edge, straight from our Merrill Edge review:
Interest on uninvested cash
Merrill Edge pays 4.2% interest on uninvested USD for accounts above $100k.
This is how it works: your uninvested cash is placed by Merrill into a deposit account with Bank of America, called a Preferred Deposit. The money is insured by the Federal Deposit Insurance Corporation (FDIC), up to applicable limits.
You can access your Preferred Deposit balance — through your financial advisor — to quickly and easily redirect these assets for your personal needs or to take advantage of other opportunities.
Find the best brokers for earning interest on your uninvested cash
Does your broker not offer any interest on idle cash? Or do you want to check whether its interest rates are competitive with the rest of the market?
Check our toplist of the best brokers for cash interest to find brokers with the most attractive rates.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
Further reading
- Diversifying your investments
- Merrill Edge stock conditions explained
- Stock trading at Merrill Edge: an expert guide and rating
- Merrill Edge penny stocks trading conditions explained
- Merrill Edge bond availability
- ETF trading conditions at Merrill Edge explained
- Merrill Edge fractional shares trading conditions explained
- Are margin interest rates low at Merrill Edge?
- Merrill Edge ESG investing
- Merrill Edge invest $100,000
- Merrill Edge IPO accessibility
- Merrill Edge Mexican stocks trading availability
- Merrill Edge US stock trading details
- Merrill Edge Australian stocks trading availability
- Merrill Edge Canadian stocks trading availability
- Merrill Edge Japanese stocks trading availability
- Merrill Edge French stocks trading availability
- Merrill Edge Italian stocks trading availability
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- Merrill Edge Hong Kong stocks trading availability
- Merrill Edge Dutch stocks trading availability
- Merrill Edge Spanish stocks trading availability
- Merrill Edge Singapore stocks trading availability
- Merrill Edge Swedish stocks trading availability
- Merrill Edge Norwegian stocks trading availability
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
