I can only surmise that you need to find a better customer service contact at TDA. In fact I made the change after learning about this relatively new option here. Then of course I can't explain why you weren't offered a sweep into PTTXX, since I'm one of several posters to this thread that apparently made this change successfully in January. How long ago did you ask? I do know this is a relatively new option, and that all TDA CS agents may not yet know the details. Each account was considered in isolation in determining whether I met the threshold. Only options were 1.1% on accounts above $1M and 0.75% on accounts above $500K. I asked customer service about having PTTXX as a sweep account, but it was not an option. PTTXX has been set up as a sweep in each of our 5 accounts. Your assumption is not consistent with my post and other's earlier in this thread.
#TD AMERITRADE CASH SWEEP VEHICLE CHOICES SOFTWARE#
Has anyone looked into the possibility of writing software that automatically sweeps unused cash into a money market mutual fund? Seems like it would be relatively easy as far as algorithmic trading goes. But if I recognize the additional risk is de minimis, and I had $1,000,000 in cash, I'd go for PVOXX and take the extra $7,200 a year.ĬIT has 2.45% with 25k balance or $100p month qualifying deposit.įrom what I gather, Federated funds are not available as sweep accounts at TD Ameritrade. If I had only $10,000 in cash savings and I was having trouble sleeping at night, then sure I'd forgo the extra $72 a year and go with CIT. CIT is currently offering 1.85% and PVOXX is offering 2.57%. Technically, yes, but practically there's not much difference in safety. Wouldn’t CIT bank high yield savings with FDIC be safer? The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.” An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
“You could lose money by investing in the fund.
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