Uphold HQ Inc. is not affiliated with, but has an engagement with, Atomic Brokerage LLC (Atomic), a registered broker dealer and member FINRA/SIPC, to bring you the opportunity to open a brokerage account through Atomic Brokerage LLC (Interest Account) in which cash is swept into unaffiliated bank deposit accounts opened for you by, and in the name of, Atomic as agent and custodian. You should not expect cash in your 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 [email protected] to discuss your options. For full details about the Atomic Cash Sweep Program, see the Terms & Conditions. For more details about Atomic, please see their Form CRS, General Disclosures, Privacy Policy, fee schedule, and BrokerCheck. Neither Atomic nor any of its affiliates is a bank.
The Atomic Cash Sweep ("Cash Sweep") is a product offered by Atomic Brokerage that allows clients to earn interest on the available cash in their Atomic Brokerage account. Through Cash Sweep, clients' funds are deposited into an interest-bearing deposit account (“Deposit Account”) at one or more banks ("Program Banks"), where the funds earn a variable interest rate and are eligible for FDIC insurance coverage.
The annual percentage yield (APY) on the deposit balances in Cash Sweep is variable and subject to daily changes. Clients’ actual APY may be lower if they designate certain banks as ineligible to receive their deposits. The Program Bank list may change over time. For a current list of the Program Banks at any point in time, please refer to Atomic Brokerage’s website or contact Atomic Brokerage. Atomic Brokerage and third parties receive a fee for the Atomic Cash Sweep program.
If you participate in Cash Sweep, you authorize Atomic Brokerage to allocate your funds among one or more Program Banks at its discretion. Deposits at each Program Bank are insured by the FDIC up to $250,000 per insurable capacity. In total, funds deposited into Cash Sweep are eligible for up to $2,500,000 of FDIC insurance once the funds reach one or more Program Banks (up to $250,000 for each insurable capacity at up to 10 Program Banks). However, if clients exclude certain Program Banks, the amount of available FDIC insurance may be lower. Clients are responsible for monitoring the total amount of deposits that they have with each Program Bank, in order to determine the extent of FDIC deposit insurance coverage available to them. For more information on FDIC insurance, visit www.FDIC.gov.
Balances maintained in the Deposit Accounts at each Program Bank are FDIC insured but are not protected by SIPC. You should not expect cash deposited in an Atomic Brokerage account solely for the purpose of accessing the Cash Sweep 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 [email protected] to discuss your options. You may obtain further information about SIPC coverage, including a brochure that describes SIPC and SIPC insurance, by accessing the SIPC website at www.sipc.org.
*The Interest Account is a brokerage account offered by Atomic Brokerage LLC. Funds in the account are in USD. Balances of $10 or more earn 4.5% APY. Balances below $10 earn 2% APY. Rate subject to change. See Cash Sweep Program Terms and Conditions. Neither Atomic Brokerage LLC nor its affiliates are a bank.
Uphold HQ Inc. NMLS ID No. 1269875, Registered Office: 80 East Sir Francis Drake Blvd., Ste. 3E, Larkspur, CA 94939.
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Furthermore, we comply with relevant privacy regulations, including the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), the Personal Information Protection and Electronic Documents Act (PIPEDA), and the UK Data Protection Act, underscoring our dedication to protecting the personal data and privacy rights of our global customers.
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