The Cash Management Account® (CMA® Account) combines brokerage services and cash management capabilities in a single account. The CMA Account allows you to manage both your day-to-day finances as well as your longer-term investments. Plus, the CMA Account can complement other investing solutions from Merrill and banking solutions from Bank of America to help you pursue your financial goals.

You can deposit cash and checks into your CMA Account via Direct Deposit, Mobile Check Deposit, through Funds Transfer Service, Fedwire or by using Bank of America ATMs.  You can also use MyMerrill®  and Bank of America online banking or mobile app to transfer funds between Bank of America and Merrill accounts.

The Merrill Lynch Bank Deposit Program, available as an automatic sweep, offers a convenient way to earn interest. With the Merrill Lynch Bank Deposit Program, uninvested cash balances are placed in deposit accounts with Bank of America, N.A., and Bank of America California, N.A., and are insured by the Federal Deposit Insurance Corporation (FDIC), up to applicable limits. It is important to understand that Merrill is not a bank and FDIC deposit insurance only covers the failure of an FDIC-insured bank. To explore all the ways your cash balances in a CMA Account can earn interest, please speak with your Merrill advisor.

In general, assets held in a CMA Account may be subject to U.S. federal taxes, meaning that any interest, dividends or capital gains and/or losses must be declared on the account holder’s taxes each year. Merrill does not offer advice on these tax issues except that you consult your legal and/or qualified tax advisor.

Your assets held at Merrill are protected by the Securities Investor Protection Corporation.  Bank deposits held at insured banks through your CMA Account are insured by the Federal Deposit Insurance Corporation, up to applicable limits. It is important to understand that Merrill is not a bank and FDIC deposit insurance only covers the failure of an FDIC-insured bank.