You misunderstand, the cash in these accounts are kept in an FDIC sweep, so it's... | Hacker News

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		astura on Oct 3, 2019 \| parent \| context \| favorite \| on: Schwab Removes U.S. Stock, ETF and Options Commiss... You misunderstand, the cash in these accounts are kept in an FDIC sweep, so it's FDIC insured.

acjohnson55 on Oct 3, 2019 [–]

It's often true that the funds aren't covered until they're in the custody of the partner bank. This is the case for some of the neobank cash accounts. Not sure about Schwab tho.

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