Changes to USD Interest Account Rates: What This Means for You
At Uphold, we believe in keeping you informed about updates that impact your account. Following the latest decision by the Federal Reserve, we’re making a small adjustment to the interest rates on your USD Interest Account. Here’s what you need to know:
What’s Changing?
Starting on December 20, 2024, the interest rate on balances of $1,000 or more will decrease from 4.65% APY to 4.40% APY. Balances under $1,000 will continue to earn 2%.
While this adjustment reflects broader economic changes, Uphold remains dedicated to offering competitive rates compared to other major crypto platforms.
What Does This Mean for You?
Your USD Interest Account will continue to grow your balance, and you don’t need to do anything—the new rate will apply automatically. To maximize your earning potential under the new rates, consider increasing your balance to $1,000 or more.
FAQs
- Why are the rates changing?
The Federal Reserve’s recent decision to adjust national interest rates has led to this update. Uphold’s rates align with these changes. - What do I need to do?
Nothing at all! The updated rate will apply automatically starting on December 20, 2024. - Can I add more funds?
Absolutely. You can deposit additional funds at any time to take full advantage of the 4.40% rate on balances over $1,000. - When does this take effect?
The new rates will apply starting on December 20, 2024.
In Summary:
Though the rate has changed slightly, Uphold continues to provide a safe and rewarding way to grow your USD balance. Your funds remain protected by FDIC insurance through our partner banks, and your account will continue earning interest automatically.
Have questions? Click below to discover more about the USD Interest Account.
Learn More1 Balances of $1,000 or more earn 4.40% APY. Balances under $1,000 earn 2% APY. Rate is subject to change. Interest is paid on a monthly basis and is compounded monthly.
2 The USD Interest Account is a brokerage account offered by Atomic Brokerage LLC, member FINRA/SIPC, for participation in the Atomic Cash Sweep Program. Cash deposited in the account solely for the purpose of accessing the Cash Sweep Program is not protected by SIPC or FDIC. Cash is protected by FDIC insurance when deposited into the program banks. For full details about the program, see the Terms & Conditions. Neither Atomic Brokerage, nor any of its affiliates, is a bank. Crypto is not offered through Atomic Brokerage. Full disclosure.
3 You are able to have up to $2,500,000 ($250,000 per depositor, per insured bank for each account) Federal Deposit Insurance Corporation (FDIC) insurance for deposits in your Atomic Brokerage account when those deposits are swept to all ten Program Banks in the Atomic Cash Sweep Program. Funds held in your Atomic Brokerage account are not FDIC insured. Funds held in your Atomic Brokerage account solely for the purpose of accessing the Cash Sweep are also not protected by SIPC.
4 Access to your funds is typically available within seconds. Transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Additionally, sometimes transfers can be delayed.
Disclosure
Uphold is not affiliated with, but has an engagement with, Atomic Brokerage LLC (“Atomic Brokerage”), a registered broker-dealer and member of FINRA and SIPC, to bring you the opportunity to open a brokerage account through Atomic Brokerage (“USD Interest Account”) in which cash is swept into unaffiliated bank deposit accounts opened for you by, and in the name of, Atomic Brokerage as agent and custodian. You should not expect cash in your USD Interest Account to be protected by SIPC or FDIC insurance, and cash is only protected by FDIC insurance (subject to coverage limits and eligibility requirements) once deposited by Atomic in the unaffiliated bank deposit accounts. If you prefer your cash to be invested in a Money Market Fund eligible for SIPC coverage, you must send an email to [email protected] to discuss your options. For full details about the Atomic Cash Sweep Program, see the Terms & Conditions. For more details about Atomic, please see their Form CRS, General Disclosures, Privacy Policy, and BrokerCheck. Neither Atomic nor any of its affiliates is a bank.
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