Changes to USD Interest Account Rates: What This Means for You

Following the latest decision by the Federal Reserve, we’ll be reducing the rates you earn on your balances. Here’s everything you need to know.

What’s changing?

Due to the Federal Reserve’s decision to lower the headline rate by 0.5%, we are reducing the rate on your USD Interest Account by 0.1%, from 5% to 4.9%. This adjustment will apply to balances of $1,000 or more, while balances below $1,000 will continue to earn 2%.

Although we had to make this small reduction this small reduction, Uphold remains committed to offering one of the highest rates among major crypto platforms.

FAQs:

Why are the rates changing?
These adjustments reflect the latest decision by the Federal Reserve to lower headline rate by 0.5%.

What do I need to do?
Nothing! The new rates will automatically apply to your account starting on September 26, 2024, so no action is required on your part.

Can I add more funds?
Yes. Your USD Interest Account is instant access. You can add funds or withdraw at any time instantly.

When do the new rates come into effect?
The new rates will take effect on September 26, 2024. Any interest earned after that will be based on the updated rates.

Learn More

1 Balances of $1,000 or more earn 4.9% 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 support-[email protected] to discuss your options. For full details about the Atomic Cash Sweep Program, see theTerms & 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.