Vanguard Cash Plus: who holds your money
Vanguard Cash Plus is not a bank. Vanguard Cash Plus says customer money is held at American Express National Bank, Sunflower Bank, National Association, Bank of Baroda, Synchrony Bank, The Bank of New York Mellon and 11 more program banks, with insurance reaching customers as SIPC protection for securities, with cash swept to program banks. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
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.
Partner banks
- American Express National BankFDIC #27471 · sweep network18.2%above the insured limitA96.8
- Sunflower Bank, National AssociationFDIC #4767 · sweep network31.3%above the insured limitC43.3
- Bank of BarodaFDIC #33681 · sweep networkno grade yet
- Synchrony BankFDIC #27314 · sweep network11.9%above the insured limitA100.0
- The Bank of New York MellonFDIC #639 · sweep network68.2%above the insured limitC25.8
- Toyota Financial Savings BankFDIC #57542 · sweep network16.3%above the insured limitA88.1
- CIBC Bank USAFDIC #33306 · sweep network65.9%above the insured limitB53.2
- Truist BankFDIC #9846 · sweep network44.9%above the insured limitC29.0
- Citibank, National AssociationFDIC #7213 · sweep network47.8%above the insured limitC48.4
- UBS Bank USA, National AssociationFDIC #57565 · sweep network37.2%above the insured limitB74.2
- HSBC Bank USA, National AssociationFDIC #57890 · sweep network68.1%above the insured limitB54.8
- U.S. Bank National AssociationFDIC #6548 · sweep network52.2%above the insured limitF1.6
- The Huntington National BankFDIC #6560 · sweep network32.5%above the insured limitC35.5
- Valley National BankFDIC #9396 · sweep network39.8%above the insured limitF4.8
- Wells Fargo Bank, National AssociationFDIC #3511 · sweep network50.3%above the insured limitF1.6
- PNC Bank, National AssociationFDIC #6384 · sweep network44.8%above the insured limitB58.1
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
Under the Vanguard Bank Sweep program, eligible balances are swept to the participating Program Banks listed below.
personal1.vanguard.com · as of September 5, 2026
Bank list effective September 2026 per the PDF; 'Pinnacle Bank' is omitted because the name matches several FDIC records. Sunflower Bank leaves the network 2026-12-15 per the same PDF.