1. Promo 8.1% APY (as of 01/11/24) is for new users who have never made a deposit before. The Base Rate is 5.1% APY, plus a 3% temporary boost is available once the coupon is activated. The actual APY earned may differ based on when the user activates the coupon, as the base rate may change, or if different coupons are stacked together. For more info on how the APY booster coupon works, visit moomoo.com/us/support/topic4_459
2. Cash Sweep 5.1% APY is only for new & users that meet either qualifying deposit, transfer, or referral requirements. Rate as of 11/9/23 and can change. Moomoo is not a bank.
3. APY Booster Rate is effective for 3 months on up to $20,000 in cash sweep program once coupon is activated. This coupon is only available as an account opening bonus to new customers.
When the uninvested cash in your brokerage account is swept to deposit accounts at program banks, it becomes eligible for FDIC insurance up to $1 million or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity, which may impact how much is covered. You are responsible for monitoring the total amount of deposits that you have with each Program Bank, in order to determine the extent of FDIC deposit insurance coverage available to you MFI is not responsible for any insured or uninsured portion of the Deposit Accounts or any other deposits at the program banks.
Please note that until funds are swept to a program bank, they are held in your brokerage account which is protected by SIPC. Once funds are swept, they are no longer held in your brokerage account and are not protected by SIPC.
However, these funds are eligible for FDIC insurance through the Program Banks subject to FDIC insurance coverage limits.