Rho Treasury invests your company's idle cash in US Treasury Bills and money market and short-duration funds, managed by RBB Treasury LLC, an SEC-registered investment adviser. Earn up to 4.62% net yield (terms apply), starting at a $50,000 minimum investment.
Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, a division of Santander Bank, N.A. Member FDIC.
What you get with Rho Treasury
¹ Rho Treasury is a securities investment product, not a bank deposit, and is not FDIC-insured. Securities are protected by SIPC up to $500,000 per customer, including up to $250,000 for cash claims. SIPC protects against the failure of the broker dealer, not against market losses. Custodial services provided through Apex Clearing Corp. and Interactive Brokers LLC, registered broker dealers and members FINRA/SIPC. *The yield shown is variable, is presented net of the annual management fee, and is based on 90-day Treasury Bill rates as of 09/04/2026; see the rate disclosure in the footer of this page.
- 01
Open a Rho account
Apply online in less than 10 minutes. Have your EIN letter and formation documents ready. Rho Treasury sits in the same platform as your Rho checking account and corporate cards.
- 02
Fund your Treasury account
Transfer $50,000 or more to start. After that, move money in from $1,000 per transfer.
- 03
Set your allocation
Choose a mix of US Treasury Bills and money market and short-duration funds in 5% increments. Allocations always total exactly 100% and earn a blended net yield.
- 04
Withdraw when you need it
Move funds back to your Rho checking account. Withdrawals settle in 2 to 3 business days.
Treasury management services with one transparent fee
- Deposits of $20M or more: 0.15% annually
- Deposits of $10M to $20M: 0.25% annually
- Deposits of $5M to $10M: 0.35% annually
- Deposits of $2M to $5M: 0.45% annually
- Deposits under $2M: 0.60% annually
What your cash actually
earns — the whole math
Yield headlines hide two things: fees, and minimums. Here is the full calculation — the fee at your balance tier and the net yield it produces, on the same row. The “up to 4.62%” headline is the $20M+ tier, net of the lowest fee (0.15%); find your balance below for the number that actually lands in your account. Rho Treasury requires a $50,000 minimum, one-fifth of Mercury’s published $250,000 minimum (mercury.com/treasury, verified 08/20/2026)
The math
Subtracted from the fund’s published SEC yield
$20M+
0.15%
$10–20M
0.25%
$5–10M
0.35%
$2–5M
0.45%
$50K–$2M
0.60%
The math
Subtracted from the fund’s published SEC yield
Published 30-day SEC yield − fee = net
Published 7-day SEC yield − fee = net
Trailing 7-day avg 13-week T-Bill yield − fee = net
$20M+
0.15%
4.62%
3.69%
3.61%
$10–20M
0.25%
4.52%
3.59%
3.51%
$5–10M
0.35%
4.42%
3.49%
3.41%
$2–5M
0.45%
4.32%
3.39%
3.31%
$50K–$2M
0.60%
4.17%
3.24%
3.16%
Yields as of 09/04/2026 and change daily. Money market fund yields are 7-day SEC yields; bond fund yields are 30-day SEC yields. Net figures are net of Rho’s annual fee at the stated balance tier (0.60% for total deposits under $2M; 0.45% $2–5M; 0.35% $5–10M; 0.25% $10–20M; 0.15% at $20M+). Yields are variable and not guaranteed; past performance is not a guarantee of future results. Rho Treasury requires a $50,000 minimum investment. Competitive data collected from Mercury websites as of 08/20/2026, and may change. Liquidity: T-Bill sales and mutual fund redemptions settle in 2 business days when submitted before the daily cutoff (5:00 PM ET for T-Bills, 4:00 PM ET for mutual funds), and 3 business days after. Proceeds from Treasury sell orders reach your checking within 2 business days (as of 08/03/2026). Any T-Bill yield shown on this page is the trailing 7-day average U.S. T-Bill yield (13-week), source: U.S. Department of the Treasury. Rho Treasury invests in securities: SIPC-protected, not FDIC-insured, and subject to investment risk, including possible loss of principal. RBB Treasury LLC dba Rho Treasury is an SEC-registered investment adviser and subsidiary of Rho; registration with the SEC does not imply a certain level of skill or training.
See exactly what your cash would earn
Net yields by deposit size, by fund. The number you see is the number that lands in your account — fee already taken out.
Short-term bond fund investing primarily in investment-grade corporate bonds, with other assets including government and securitized debt. Share price may fluctuate as interest rates change.
> $20M
4.62%
$10-20M
4.52%
$5-10M
4.42%
$2-5M
4.32%
$50K-2M
4.17%
Short-term bond fund investing primarily in investment-grade corporate bonds, with other assets including government and securitized debt. Share price may fluctuate as interest rates change.
Ultra-short bond fund holding a diversified portfolio of corporate notes, commercial paper, certificates of deposit, and repurchase agreements. Minimal share price fluctuations.
Short-term U.S. Government debt security backed by the U.S. Treasury. It's a stable and predictable way to earn yield on idle funds when held to maturity.
> $20M
4.62%
3.69%
3.61%
$10-20M
4.52%
3.59%
3.51%
$5-10M
4.42%
3.49%
3.41%
$2-5M
4.32%
3.39%
3.31%
$50K-2M
4.17%
3.24%
3.16%
This reflects the sought net yield based on 90-day Treasury Bill rates as of 09/07/2026 and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield. *RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser , and subsidiary of Rho seeks to earn net returns up to 4.62% annually on your idle cash. Net yield numbers as of 09/07/2026, and assumes total Rho deposits of $20M+ and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Registration with the SEC does not imply a certain level of skill or training.
Access it in days
Sell before the daily cutoff; cash settles in 2 business days, then reaches checking within 2 more business days.
Protected, not parked
Held with a qualified securities custodian, covered by SIPC up to $500,000 per customer, including $250,000 in cash.
Bookkeeping on autopilot
Rho Treasury syncs with QuickBooks Online, NetSuite, Sage Intacct, Campfire, and Puzzle, and automatically reinvests your earnings.
| Rho | |
|---|---|
| Yield | Up to 4.62% net (terms apply) |
| Management fee | 0.15% to 0.60% annual, billed monthly |
| What your cash is invested in | US Treasury Bills and money market and short-duration funds |
| How your cash is protected | SIPC up to $500,000 per customer ($250,000 for cash); managed by RBB Treasury LLC, an SEC-registered adviser |
| Minimum to invest | $50,000 |
| Rho | Mercury | Brex | Ramp | |
|---|---|---|---|---|
| Yield | Up to 4.62% net (terms apply) | Variable; changes with market rates | Variable; changes with market rates | Variable; changes with market rates |
| Management fee | 0.15% to 0.60% annual, billed monthly | 0.15% to 0.6% of monthly Treasury positions, tiered by total Mercury deposits | No treasury transaction fees; management fee not published | Advisory fees apply; amount not published |
| What your cash is invested in | US Treasury Bills and money market and short-duration funds | One money market fund plus one ultra-short bond portfolio | A single government money market fund | Managed fixed-income portfolio including municipal, mortgage-backed, and corporate bonds |
| How your cash is protected | SIPC up to $500,000 per customer ($250,000 for cash); managed by RBB Treasury LLC, an SEC-registered adviser | SIPC up to $500,000 ($250,000 cash cap); Mercury Advisory LLC, SEC-registered adviser | Fund held in your name at BNY Mellon; Brex Treasury LLC, a registered broker dealer; not FDIC-insured | SIPC up to $500,000, including $250,000 for cash; portfolios by Moment Advisors, LLC via Apex Clearing |
| Minimum to invest | $50,000 | $250,000 minimum balance across Mercury accounts | No minimum deposit | $5,000 minimum total position |
Competitive data collected from Mercury, Brex, and Ramp websites as of 08/20/2026, and may change. Treasury products across all providers listed are securities products protected by SIPC where noted, not bank deposits, and are not FDIC-insured. The Rho yield is variable and presented net of fees. See the full fee ladder above, or open an account to view today's rate.
Treasury management is the practice of managing a company's cash, liquidity, and financial risk so that money is available when needed and productive when it is not. For most startups and small businesses that means three jobs: keeping operating cash accessible for payroll and vendors, keeping reserves protected, and putting idle cash into short-term instruments that earn yield.
Banks sell treasury management services as bundled products; platforms like Rho build them into the account, so checking, corporate cards, and a managed investment account run from one dashboard.
Most finance teams formalize this in a short treasury policy: which instruments are allowed, how much can sit with any one institution or in any one instrument, who approves transfers, and the liquidity floor that always stays in checking. In Rho, the finance lead sets the Treasury allocation in 5% increments and keeps operating cash in checking, so the policy and the accounts that execute it live in one place.
- Keep operating cash accessible for payroll and vendors
- Keep reserves protected in FDIC-insured accounts
- Put idle cash into short-term instruments that earn yield
- Formalize a treasury policy: instruments, limits, approvals, and liquidity floor
Split it into tiers by when you will need it, then match each tier to the right account. A common structure is three tiers.
Operating cash, roughly 2 to 3 months of spend: Rho checking, FDIC-insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A., with day-to-day payment access.
Reserve cash: Rho Business Savings Account, a separate account from checking, with up to $75M in FDIC deposit insurance per depositor provided by American Deposit Management Co. and its partner banks, subject to FDIC requirements, with outbound transfers within 2 business days.
Strategic cash you will not touch for months: Rho Treasury, SIPC-protected securities up to $500,000 per customer including up to $250,000 for cash claims, not FDIC-insured, with withdrawals settling in 2 to 3 business days.
Not at $50,000 in strategic cash yet? The Rho Business Savings Account is built for reserves. The point of the reserve and strategic tiers is not to chase yield. It is to make idle cash productive without giving up the liquidity your operating plan depends on.
- Operating cash in Rho checking: FDIC-insured, day-to-day payments
- Reserve cash in Rho Business Savings Account: up to $75M FDIC coverage per depositor, subject to FDIC requirements
- Strategic cash in Rho Treasury: SIPC-protected, withdrawals in 2 to 3 business days
- Not at $50,000 yet? The Rho Business Savings Account is built for reserves
Evaluate any treasury management system on five criteria.
Cash visibility: can you see operating, reserve, and invested cash in one place? Rho Treasury sits alongside Rho checking and cards in one dashboard. Cost: is the fee schedule published? Rho Treasury charges 0.15% to 0.60% annually, billed monthly, with the full ladder on this page. Minimums and increments: some providers gate their treasury product behind a $250,000 balance across accounts; Rho Treasury starts at a $50,000 minimum investment, with subsequent transfers from $1,000 and allocations set in 5% increments. Liquidity: how fast can invested cash come back? Rho Treasury withdrawals settle in 2 to 3 business days. Protection and oversight: who manages the money, and how is it held? Rho Treasury is managed by RBB Treasury LLC, an SEC-registered investment adviser, with custody at registered broker dealers that are members FINRA/SIPC.
If you need multi-bank connectivity and enterprise forecasting, a dedicated treasury workstation may fit better; our guide to treasury management software compares those options.
- Cash visibility: see operating, reserve, and invested cash in one dashboard
- Published fee schedule: 0.15% to 0.60% annually, billed monthly
- $50,000 minimum investment; withdrawals settle in 2 to 3 business days
FDIC and SIPC protect against different failures, and knowing which applies to each account is the core of treasury risk management. FDIC insurance covers bank deposits, up to $250,000 per depositor, per bank, per ownership category, and pays out if the insured bank fails. SIPC protects brokerage customers if a member broker dealer fails, restoring securities and cash up to $500,000 per customer, including up to $250,000 for cash claims. Neither protects against market losses.
Rho Treasury is a securities product, so it is SIPC-protected and not FDIC-insured. Rho checking deposits are FDIC-insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A., and the separate Rho Business Savings Account offers up to $75M in FDIC deposit insurance per depositor through American Deposit Management Co. and its partner banks, subject to FDIC requirements. One platform, three protection regimes, each doing the job it was built for.
- FDIC: covers bank deposits up to $250,000 per depositor, per bank, per ownership category
- SIPC: restores securities and cash up to $500,000 per customer if the broker dealer fails
- Rho Treasury: SIPC-protected, not FDIC-insured
- Rho checking: FDIC-insured; Rho Business Savings Account: up to $75M FDIC coverage per depositor, subject to FDIC requirements
Apply online in less than 10 minutes. Once your account is open, invest from a $50,000 minimum, with withdrawals settling in 2 to 3 business days.
Frequently asked questions
Treasury management services help a business control cash, liquidity, and financial risk: collecting and disbursing funds, protecting reserves, and investing idle cash. Rho Treasury is the investment piece, placing idle cash into US Treasury Bills and money market and short-duration funds, managed by RBB Treasury LLC, an SEC-registered investment adviser, from a $100,000 minimum.
Securities in your Rho Treasury accounts custodied at Apex Clearing Corporation are covered by SIPC, up to $500,000 per customer, including up to $250,000 for cash. Visit the SIPC website for complete details.
A sweep network spreads your deposits across many FDIC-insured banks so more of your balance is insured — the money stays a bank deposit. A treasury account invests cash in securities such as U.S. Treasury Bills and money market funds, which earn market yield and are protected by SIPC rather than FDIC. Post-Series A, most companies use both: insured deposits for operating cash, treasury for the reserve.
Usually not a dedicated TMS — those are built for treasury teams managing many banks, entities, and currencies, and are priced accordingly. Most startups need the built-in kind: an interest-bearing savings account below roughly $100K of idle cash, and a securities-based treasury product above it, inside the platform that already runs their checking and cards.
A sweep account spreads bank deposits across many insured institutions so more of your cash carries FDIC insurance — it's still a deposit. A treasury product invests cash in securities (Treasury Bills, money market funds, bond funds) held in your company's name and protected by SIPC rather than FDIC. Deposits are insured; securities earn market rates. Compare deposits to deposits and securities to securities.
Set one up once your balance is large enough that idle cash has a meaningful opportunity cost or exceeds standard deposit insurance limits. Write down how much stays liquid, what risk you will accept, and who approves moving money, then share it with your board.
Rho Treasury is a cash management service that allows clients to invest non-operational funds in U.S. Treasury Bills and Mutual Funds, earning yield.
Investment management and advisory services are provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk and past performance does not guarantee future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services are provided through Apex Clearing Corp. Treasury and custodial services are provided through Interactive Brokers LLC for clients with accounts opened prior to July 2024.No, securities-based portfolios do not have FDIC insurance.
Visit the Rho Treasury product page to see the latest market rate. The yield may change at any time and without prior notice.
If you sell your treasury bills, you should be able to access the funds within 2-3 business days. Treasury bills sold before maturity are sold at market prices, which can fluctuate. That means that any treasury bills sold before maturity may lose value compared to your principal investment amount due to factors including, but not limited to, fluctuations in interest rates. Investments are not deposits or FDIC insured and may lose value.
When you use Rho Treasury at one of our custodial partners, your cash and investments are held in your company's name at our custodial partner, Apex Clearing Corp. (after July 2024) or Interactive Brokers LLC (pre-July 2024).
Rho Treasury is available for Rho clients that invest $50K or more (subject to compliance and partner review). Reach out to your Client Service representative to learn more.
Rho has direct integrations with QuickBooks Online, Sage Intacct, Oracle NetSuite, Campfire, and Puzzle.
We also make it easy to use CSV exports if you choose not to connect Rho with your accounting software.
Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not guarantee future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure. This material presented is for informational purposes only and should not be construed as legal, tax, accounting or investment advice. Under no circumstances should any of this material be used for or considered as an offer to sell or a solicitation of any offer to buy an interest in any securities. Any analysis or discussion of financial planning matters, investments, sectors or the market generally are based on current information, including from public sources, that we consider reliable, but we do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. Our views and opinions are current at the time of publication and are subject to change. You should consult with your attorney or relevant professional advisor for advice particular to your personal or business situation. Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank, a division of Santander Bank, N.A., or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank, a division of Santander Bank, N.A., or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested. *This reflects the sought net yield based on 90-day Treasury Bill rates as of 09/04/2026 and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield. Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, a division of Santander Bank, N.A. Member FDIC. Savings account services and up to $75M in FDIC deposit insurance per depositor provided by American Deposit Management Co. and its partner banks, subject to FDIC requirements. FDIC insurance coverage is only available to protect you against the failure of an FDIC-insured bank that holds your deposit; it does not protect you against the failure of Rho. Competitive data collected from Mercury, Brex, and Ramp websites as of 08/20/2026, and may change. Product claims current as of August 2026.