Flourish Cash is not a money market mutual fund or certificate of deposit (CD). Instead, Flourish Cash uses a “sweep” system to automatically deposit your cash at Program Banks who are able to offer competitive interest rates and FDIC insurance. Unlike a CD, this structure allows cash to remain fully liquid. And unlike a money market mutual fund, Flourish Cash does not require trading, and can offer FDIC coverage on the cash because it is held at our Program Banks.
And unlike a CD or a standard money market mutual fund, Flourish Cash can automatically move your excess cash from your checking account to where it can earn a competitive rate through Flourish SmartBalance, and then automatically transfer money back into a connected checking account based on a target you set—without requiring you to take any action.