The Cash Management Account combines investment returns and immediate liquidity to create a unique, enhanced form of cash management that empowers you to earn far greater returns on your money than the average bank.
The traditional bank model invests your money and keeps the investment returns. The Cash Management Account is simple but different: you invest your money – and you keep the investment returns. Your money generates wealth, and we think you should keep it.
Investor Cash Management (ICM) invented and developed the patent-pending Investment Debit Card. An Investment Debit Card is a debit card linked to specific securities, such as government money market funds, ultrashort bond funds, short bond funds, and bank deposits. Accordingly, the ICM Investment Debit Card transforms your specified investment funds into cash to pay directly for your debit card transactions. You get both the convenience of your debit card and may receive significantly greater returns on your money.
Your accounts are linked to specific investments. The funds in your first account are federally insured. The funds in your investment account(s) are invested in securities such as mutual funds or ETFs and are subject to market fluctuations. Your first account is ideal for funds that you plan to use for daily expenses (e.g. groceries, utility bills, mortgage payments). Your investment account(s) is (are) suited for funds you can invest for at least 3 months. You can access or transfer funds without paying penalties or fees. You determine how much funds to put into each account depending on your spending and investing needs.
The Cash Management Account empowers you to enhance the way you manage your cash. Rather than leaving your money in no/low interest bank checking and savings accounts, the Cash Management Account enables you to optimize your returns on your cash. Multiple accounts provide flexibility to move money between investments.
A traditional bank benefits from paying you little to no interest on your money, and then lending that money at a higher interest rate: the bank makes a profit off your money. By contrast, the Cash Management Account enables you to place your money into a choice of a Federally Insured Account or investment account, and you keep the higher returns.
Enroll by downloading the mobile app or visiting the website on your desktop.
Use your existing bank account or set up direct deposit to fund your account.
Transfer funds from your Federally Insured Account into investment accounts to better manage your cash.
Use your Investment Debit Card like you would any other debit card – at the store, online, and at ATMs.
You use your Cash Management Account in the same way as a traditional bank. You can transact via your Investment Debit Card, ATM, online bill pay, peer-to-peer transfers, ACH and wire transfers. In all cases, you have immediate access to your funds.
You fund your Cash Management Account in the same way as a traditional bank: direct deposit and/or bank transfer. The transfer typically takes 2 – 4 business days but may take longer. Refer to the instructions in your app for direct deposit and wire transfers.
After you complete enrollment, you can expect your card to arrive in approximately 7 business days.
Earnings credits are paid out on the first day of each month. These credits accrue and compound daily in the Federally Insured Account.
Dividends are paid out at the discretion of the asset manager. Historically, dividends have been paid monthly for bond funds. Please refer to the fund’s prospectus for more details.
Under the Manage Your Account menu, click Transfer Funds. Select the account that you wish to transfer from, select the account you wish to transfer to, then enter the amount you wish to transfer. Click Next to review your transfer, then click Confirm to initiate the transfer.
Protecting your account information and privacy are ICM’s priorities. ICM uses fraud prevention tools to help us verify your identity, which ensures that only you have access to your account. Furthermore, ICM also uses advanced encryption technologies to guard the information sent between you and ICM.
ICM works with Visa and Mastercard to offer an investment debit card issued by Sutton Bank. ICM investment products are managed by SEC-registered asset managers.
Funds held in your Federally Insured Account are insured by the FDIC. Funds swept into your investment accounts are not federally insured.
Yes, the rate is subject to change at any time without prior notice.
Only funds in the investment account(s) are invested.
There is no cost to you of placing funds into or taking funds out of the investment account(s).
There is no limit. You can access your funds instantly and as many times as you like using the investment debit card.
Yes: all securities have a risk of loss; however, funds held in your Federally Insured Account are guaranteed against lost.
Your transferred funds will typically be available in 2-4 business days to accommodate the settlement of securities, but may take longer. Your funds will be reflected in your total balance but not in your available balance. Wires will become available on the day that we receive the funds if received before 3:00 PM EST.
Yes. When you pay at the pump with your card, the gas station may place a hold of $100 or more on your funds. The hold typically expires in less than 24 hours.
Please refer to the terms and conditions, which you can find on the app and website.