Altruist Financial LLC cash rates

Effective March 25, 2020. Subject to change without prior notice.

Interest will be accrued daily on the balance of Free Credit Balances on deposit with the Program Bank. The interest will be credited and paid by the Program Bank at the end of each month, on the date your Account closes, or when you withdraw Eligible Free Credits from the FDIC Bank Sweep. Interest will begin to accrue on the day your funds are credited to the Program Bank and will accrue up to, but not including, the day on which your funds are withdrawn. The interest rate paid on your Eligible Free Credit Balances in the FDIC Bank Sweep may vary and is subject to change at any time without notice and may be equal to zero. Further, if sufficient funds are not deposited to warrant a payment of interest that would round to the nearest penny, no interest payment will be made.  

Altruist Financial LLC, in its discretion, may elect to share interest earned on Free Credit Balances invested in the FDIC Bank Sweep with you. The amount of interest paid to you and the applicable rate of return will be reflected in your Account statement. You may receive a higher or lower rate of return under the FDIC Bank Sweep Program than on other sweep options. You understand that Altruist Financial LLC may receive rebates from a clearing broker derived from customer free credit balances.  

Altruist Financial LLC is a member of the Securities Investor Protection Corporation (SIPC), which means securities held in your brokerage account are protected up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. We also participate in a bank sweep program, which means cash held in your brokerage account earns interest and becomes eligible for Federal Deposit Insurance Corporation (FDIC) Insurance up to $250,000 through an overnight cash sweep program where it is swept to FDIC member institutions. Cash balances are not eligible for FDIC insurance until they are swept to a member FDIC institution(s), and cash balances are not eligible for SIPC protection after being swept to a sweep program bank(s). This is to say that cash balances at any given time are covered by one type of protection or insurance or the other, but never both. Neither Altruist Financial LLC nor any of its affiliates is a bank.

For additional terms and conditions, including the method of calculation, of the payment of interest, please consult your customer account agreement and the cash management program disclosure statement found here.