Vanguard Cash Plus: who holds your money

The route recorded for Vanguard Cash Plus reflects the disclosure read on September 5, 2026. SIPC, protection for eligible brokerage assets, may cover securities and eligible cash remaining at the brokerage. Cash moved to program banks may qualify for FDIC, federal insurance for eligible deposits. SIPC limits do not apply to these bank deposits. FDIC coverage does not apply to securities.

Current commentary

Vanguard Cash Plus is not a bank; swept cash sits across a network of 16 program banks. Securities and cash still held at the broker receive SIPC protection, protection for assets held by brokers, up to $500,000 per customer. Of that protection, up to $250,000 may apply to cash still held at the broker. Swept cash receives FDIC pass-through insurance at each program bank, coverage reaching you through Vanguard Cash Plus, up to $250,000 per depositor, per bank. This reflects the app’s disclosure read September 5, 2026.