M1 Finance High Yield Cash Account Review 2025 | Worth It or Leave It?

Описание: M1 Finance's High Yield Cash Account features core solutions for anyone frustrated with low-yield bank accounts and strict financial restrictions. The M1 Finance High-Yield Cash Account offers an impressive 4.00% APY on every dollar with zero monthly fees or minimum balance requirements, making it a top pick to grow cash reserves faster than most banks. Funds are protected with FDIC insurance up to $4.75 million, giving peace of mind for both small and sizeable savers. With features like unlimited withdrawals, instant transfers within the M1 platform, and powerful automation tools like Smart Transfers, it’s easy to manage multiple goals and keep money working at all times. Joint accounts add flexibility for shared savings, while daily compounding ensures every cent of interest is maximized each month. However, there are a few cons: there’s a $50,000 daily ACH withdrawal limit, APY is variable and may change, and the best experience comes when using the account with the full M1 ecosystem rather than as a stand-alone option. The M1 High-Yield Cash Account makes maximizing savings simple and automated, but the true potential may only become clear at the very end—so stick around to see what sets it apart.

Pros:
4.00% APY on all balances
No monthly fees or minimum balance requirements
FDIC insurance up to $4.75 million
Unlimited withdrawals with high transfer limits
Integrated automation and Smart Transfers
Instant internal transfers
Daily compounding and monthly interest payouts
Joint account option for shared savings

Cons:
$50,000 daily ACH withdrawal limit for external transfers
Best features require using the broader M1 platform
APY is variable and may decrease with market rates
Not ideal as a basic, standalone savings account

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