Interest is accrued daily based on your end-of-day high-yield cash account balance that has been swept to our Partner Banks. Your balance is multiplied by the daily interest rate, which is derived from the annual percentage yield (APY) applicable at the time of that calculation. Your APY is variable and may change without notice at the discretion of the Partner Banks or Public Investing.
Interest rates are determined by what Partner Banks are willing to pay, less administrative fees. Public Investing receives a portion of the administrative fees paid to our clearing firm, Apex Clearing Corporation. The interest rate displayed to you and available on your High-Yield Cash Account is determined after assessing the administrative fees.
Interest is earned only on swept funds in your High-Yield Cash Account, which is a separate account from your primary Public Investing brokerage account. Cash held in that primary brokerage account does not earn interest.
For any further questions regarding interest please contact our Member Support team via in-app chat or email at email@example.com.