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Cash Sweep Program is a cash management program provided by Moomoo Financial Inc. This program is only open to US securities accounts under Moomoo Financial Inc..

If enrolled in the program, uninvested cash is automatically swept to the bank(s) through this program and is eligible to earn interest.
When the cash purchasing power of the securities account is negative, the uninvested cash will be automatically redeemed from the bank(s) to the securities account before the transactions are settled to avoid the payment of financing interest. When the cash is positive, it will be automatically deposited in the bank(s) at 2pm EST of each trading day to earn interest.

Available cash balances will be swept through the Program into interest-bearing deposit accounts ("Deposit Accounts") at one or more participating banks (each a "Deposit Bank") set forth on the Deposit Bank List, which can be accessed on our website at www.moomoo.com/us or by contacting Moomoo Financial Inc. The Deposit Bank List may change over time. For a current list of Deposit Banks at any point in time, please refer to our website or contact Moomoo Financial Inc.

The Deposit Accounts held at any Deposit Bank participating in the Program will be eligible for FDIC insurance up to the maximum applicable deposit insurance amount ("Maximum Applicable Deposit Insurance Amount"), which currently is $250,000 in the aggregate at each Deposit Bank, as described in detail below. Through the Program, joint accounts are eligible for FDIC insurance up to $500,000 per Deposit Bank.

Any deposits (including certificates of deposit issued by a particular Deposit Bank) that you maintain in the same capacity directly with a Deposit Bank, or through an intermediary (such as Moomoo Financial Inc. or another broker-dealer), including multiple accounts held at Moomoo Financial Inc. or another broker-dealer, will be aggregated with deposits in your Deposit Accounts at the Deposit Bank for purposes of determining the Maximum Applicable Deposit Insurance Amount. You are responsible for monitoring the total amount of deposits that you have with each Deposit Bank, in order to determine the extent of FDIC deposit insurance coverage available to you.

If available cash to be invested in Deposit Accounts exceeds the aggregate maximum coverage limit of $1,000,000 ($2,000,000 for joint accounts), any additional funds will be invested in a Deposit Bank but will not be FDIC insured.

The interest in the Cash Sweep program is accrued daily and paid monthly, and will generally be paid to the swept account at the end of the month. You can use a filter to see all the records of the program in the securities account "fund details".

When participating in the Cash Sweep program, the funds deposited in the bank will still be considered as your securities' account purchasing power.

Yes, you have the flexibility to withdraw or invest your funds at any time.

No, the rate should not be affected from the promotion ending. For example, if you deposit $500 today as an existing customer in order to gain the 5.1% APY for your uninvested cash, that rate should continue at the end of the promo period. However, that does not mean rates will always remain the same. APY rates are still subject to change depending on various factors, such as the Federal Funds rate, market and economic conditions.