What does FSMOne cash account and auto-sweeping account mean? - Seedly
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Asked on 22 Jan 2020

What does FSMOne cash account and auto-sweeping account mean?

What's the difference between the 2? Which is better? Anyone has either account and would like to share their experience?

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Frankie Aufhauser-Rappaport
Frankie Aufhauser-Rappaport
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Top Contributor (Feb)

Level 8. Wizard
Answered on 14 Feb 2020

With the auto sweeping account all available cash is automatically invested into

"potentially" higher yielding investments, but still available anytime.

However FSMOne cannot guarantee the better yields (and possibly the risk on this

cash is a bit higher). If You don't have big sums as cash on Your account maybe reasonably safe.

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