An account that combines banking services (check writing, credit/debit cards) with brokerage features (buying securities, making loans on margin) and the convenience of having all transactions listed on one statement. back to the top
An all-in-one account banks and brokerages offer to allow customers to invest in stocks or bonds, write checks, pay bills and earn an elevated interest rate on their cash. Brokerages typically require a minimum amount of cash and securities. These accounts are attractive because any cash that comes in from interest, dividends, or the sale of securities is swept into a money market account. Brokerages also offer customers free checking and access to preferred rates on loans. Because of the fees, this type of account best serves active traders. Also called cash management account.