Does Ameritrade give Interest on Balance?

S

Sanjuro

Does Ameritrade give Interest on Balance?

I search their entire site and couldn't find this information.
I know FreeTrade does not give interest on unused Balance.
I know Datek gave interest before it got bought by Ameritrade.

Does anyone know the answer?
And where on it's web site it shows this?

Thanks!
 
From Ameritrade's Website (Site Map & Getting Started/FAQ):

Interest on Cash Balances

As a benefit to our clients, Ameritrade pays interest on credit balances over $25,000 in your account.

Simple interest is calculated on the entire daily balance and is credited to your account monthly.

We pay interest daily on all free credit balances of $25,000 or more that are being held for future investment. (Wisconsin residents cannot earn interest.)
 
I established a "Reserve Fund" at AT into which my cash sweeps into each night on which I earn a return on the balance. This does not require a balance of as much as $25000 to earn a return. However, the returns earned in our current low interest environment are almost nothing and are not worth the trouble of setting up the Reserve Fund at this time.
 
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