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moomoo Debit Card. Is moomoo FDIC insured in 2026?
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Cash Management at moomoo
Key findings:
• moomoo offers debit-card functionality but does not offer a credit card or checkwriting.
• moomoo has an FDIC sweep program with a high APY.
• There are no money market mutual funds at moomoo.
moomoo does not specialize in cash management, and this is evident from the limited range of options available to clients for their idle cash.
Banking Features at moomoo
A brokerage account at moomoo is intended for securities trading. The company offers debit-card functionality through Astra, but it does not provide a checkbook or credit card. There is no premium service required to use the debit-card feature.
Another cash-management feature moomoo offers is an FDIC sweep. After enrollment in the Cash Sweep Program, uninvested cash in a brokerage account is
automatically moved to program banks. At these banks, eligible idle cash balances receive FDIC insurance and earn a
3.35% APY right now.
Although the cash is held at the program banks, it remains available for trading at any time. The cash can also be withdrawn through the moomoo platform or accessed through a linked debit card. Checkwriting is not available.
Because moomoo uses multiple banks in its FDIC sweep, eligible deposits receive up to $1 million in FDIC insurance, subject to a limit of $250,000 per program bank and the customer's other deposits held at each bank in the same ownership category. This is four times the standard single-bank limit. Participating banks include BankUnited, Cadence Bank, and East West Bank.
Webull Promotion
Visit Webull Website
moomoo Bonus APY Booster
New customers who open an eligible brokerage account during the promotion period can receive a substantial
increase over the normal APY. This special promotion results in an interest rate of
8.1% APY. The interest-rate boost lasts 2 months and applies only to the first $20,000 enrolled in the Cash Sweep Program.
moomoo Money Market Funds
Unfortunately, moomoo does not offer mutual funds, including money market mutual funds.
Updated on 7/27/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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