Move cash your business doesn't need this month out of checking and into US Treasury Bills, an ultra-short income fund, and a short-term bond fund. Open with $50,000, get a live, tiered net yield, and move funds back to checking in 2 to 3 business days.
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 09/09/2026; see the rate disclosure in the footer of this page.
- 01
Move cash from checking
Transfer excess operating cash into Treasury, or set a standing rule that moves it automatically.
- 02
Choose your allocation
Split across US Treasury Bills, an ultra-short income fund, and a short-term bond fund, in 5% increments up to 100%, with the short-term bond fund capped at 50% of your total allocation.
- 03
Earn a live, tiered net yield
Your blended rate updates daily and scales with balance size. See the current rate above.
- 04
Move money back in 2 to 3 business days
Request a withdrawal any time. Funds settle back to checking in 2 to 3 business days.
What Rho Treasury costs
- Access to US Treasury Bills, an ultra-short income fund, and a short-term bond fund
- A live, tiered net yield that updates daily
- Standing transfer rules between checking and Treasury
- Allocations in 5% increments, rebalance any time
- QuickBooks, NetSuite, and Sage integrations for reconciliation
The fee is based on assets under management, billed monthly, and ranges from 0.15% at the highest balances to 0.60% at the lowest. The net yield shown on this page is already calculated after this fee.
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 4.63%” 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)
Fund description
------->
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%
Fund description
------->
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.
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%
4.63%
3.69%
3.63%
$10–20M
0.25%
4.53%
3.59%
3.53%
$5–10M
0.35%
4.43%
3.49%
3.43%
$2–5M
0.45%
4.33%
3.39%
3.33%
$50K–$2M
0.60%
4.18%
3.24%
3.18%
Yields as of 09/09/2026 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.
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 | |
|---|---|
| Best for (stage) | Growing companies with idle cash above the $50,000 minimum, from shortly after a raise through scale |
| Minimum to access yield | $50,000 |
| Net yield | Updates daily, scales with balance, see current rate above |
| Annual fee on invested balances | 0.15% to 0.60%, billed monthly |
| Investor protection | SIPC up to $500,000 per customer, including up to $250,000 cash¹ |
| Liquidity | 2 to 3 business days |
| Rho | Mercury | Brex | Ramp | |
|---|---|---|---|---|
| Best for (stage) | Growing companies with idle cash above the $50,000 minimum, from shortly after a raise through scale | Companies already holding $250,000 or more across Mercury accounts | Any balance; Brex sets no minimum | Companies starting around a $5,000 position |
| Minimum to access yield | $50,000 | $250,000 across all Mercury accounts | No minimum deposit | $5,000 initial investment |
| Net yield | Updates daily, scales with balance, see current rate above | Tiered by balance and fund, published on mercury.com (stamped 08/28/2026 on Mercury's own page) | Tiered by balance, published on brex.com (checked 2026-09-06) | Renders as a placeholder on ramp.com, no fixed rate published (checked 2026-09-06) |
| Annual fee on invested balances | 0.15% to 0.60%, billed monthly | 0.15% to 0.60%, tiered by total deposits | None | Up to 0.15% advisory fee |
| Investor protection | SIPC up to $500,000 per customer, including up to $250,000 cash¹ | SIPC up to $500,000 total, $250K cash and $250K securities | SIPC-protected, AAA-rated fund, no coverage cap published | SIPC up to $500,000, including up to $250,000 cash |
| Liquidity | 2 to 3 business days | Same-day to 1 to 2 business days, fund dependent | Same-hour to daily | Same-day to about 2 business days, fund dependent |
Competitive data collected from Mercury, Brex, and Ramp websites as of 2026-09-06, and may change. ¹ Treasury investments are not FDIC-insured. They are held through SIPC-member broker-dealers and protected by SIPC up to $500,000 per customer, including up to $250,000 of cash. Investments are not deposits, are not bank-guaranteed, and may lose value.
Most companies split cash into two buckets. Operating cash covers payroll, rent, and vendors, and sits in checking earning nothing. Everything past that, sometimes called excess or idle cash, can go to work instead.
Here's where Rho Treasury comes in. It invests that second bucket in US Treasury Bills, an ultra-short income fund, and a short-term bond fund, blended into one live rate that updates daily.
Set a standing rule and cash moves back to checking on a schedule (weekly is the fastest cadence Rho supports for that direction), so operating cash never runs dry while the rest keeps earning.
- 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
A lot of people search for a business money market account and land on personal-finance content built for individuals, not companies. The mechanism is similar (short-term, low-risk securities aiming for a better return than a savings account), but the account structure isn't.
Rho Treasury is built for business entities instead: statements built for your books, integrations that reconcile automatically, and allocations that scale from $50,000 into the tens of millions.
One more distinction worth knowing: it's not a bank account. Treasury investments are held through SIPC-member broker-dealers (Apex Clearing Corp. for accounts opened after July 2024, Interactive Brokers LLC before that), protected by SIPC up to $500,000 per customer, including up to $250,000 in cash, rather than FDIC-insured like a checking or savings deposit.
- A business money market account uses a similar mechanism to Rho Treasury, but not the same account structure
- Rho Treasury is built for business entities: statements, integrations, and allocations that scale from $50,000
- Treasury investments are SIPC-protected, not FDIC-insured, unlike a checking or savings deposit
Enterprise treasury management systems are built for companies running a dedicated treasury function across many bank accounts, entities, and currencies, with cash forecasting and compliance workflows layered on top. That's a real category, and it's not what most growing companies need.
Rho Treasury solves the narrower problem almost every company actually has: what happens to cash sitting idle in checking. No separate software to license, no treasury hire required, just an account you fund and a rate that updates on its own.
For teams evaluating enterprise treasury platforms, our guide to <a href="/blog/treasury-management-software">treasury management software</a> breaks down that category in more depth.
- Enterprise TMS: built for a dedicated treasury function across many bank accounts, entities, and currencies
- Rho Treasury: solves the narrower problem of idle cash sitting in checking, no separate software or hire required
- See our guide to treasury management software for the enterprise category
Rho Treasury starts to make sense once a company is holding more cash than the next few months of spend require, which for a lot of teams shows up right after a funding round or once revenue starts consistently outpacing burn.
Below the $50,000 minimum, the account doesn't apply yet, and that's fine. Above it, the fee schedule and the tiered yield both work in your favor as the balance grows.
If you're earlier than that, a <a href="/blog/corporate-treasury">corporate treasury</a> function usually isn't the priority yet; checking and a savings account cover it.
- Rho Treasury starts to make sense once idle cash exceeds a few months of spend
- Below the $50,000 minimum, checking and a savings account cover it
- Above the minimum, the fee schedule and tiered yield both work in your favor as balance grows
Open a Rho Treasury account with a $50,000 minimum. See the rate you'd earn today, and move funds back to checking in 2 to 3 business days whenever you need them.
Frequently asked questions
A business treasury account moves cash a company doesn't need for near-term operating expenses into interest-bearing instruments like Treasury Bills and money market funds, instead of leaving it idle in checking. With Rho Treasury, that cash is invested through RBB Treasury LLC, an SEC-registered investment adviser, starting at a $50,000 minimum.
No, securities-based portfolios do not have FDIC insurance.
Rho Treasury opens with a $50,000 minimum. From there, allocations split across US Treasury Bills, an ultra-short income fund, and a short-term bond fund in 5% increments, with the short-term bond fund capped at 50% of the total.
Rho Treasury holds your investment through SIPC-member broker-dealers, protected by SIPC up to $500,000 per customer, including up to $250,000 in cash, which is a different protection than FDIC insurance on a bank deposit. Rho states plainly which one applies to each product: Treasury is SIPC-protected, Rho Checking is FDIC-insured through Webster Bank, a division of Santander Bank, N.A., and the separate Rho Business Savings Account carries its own FDIC coverage through a network of partner banks. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
Treasury management is how a company decides what happens to cash beyond its immediate operating needs: how much stays liquid, where the rest earns a return, and how quickly it can come back if plans change. For most growing companies that means splitting cash between checking for day-to-day spend and a treasury account like Rho Treasury for the excess.
Open a Rho Treasury account with a $50,000 minimum, choose an allocation across US Treasury Bills, an ultra-short income fund, and a short-term bond fund in 5% increments (the short-term bond fund is capped at 50% of the total), and set a standing transfer rule to move excess cash over from checking. Funds move back within 2 to 3 business days whenever you need them.
A personal cash management account, the kind built for individuals at brokerages like Fidelity or Schwab, isn't built for a business. Rho Treasury is: statements built for your books, integrations that reconcile automatically, and allocations that scale from a $50,000 minimum into the tens of millions. The underlying mechanism (short-term, low-risk securities aiming for a better return than cash sitting idle) is similar; the account structure, tax reporting, and minimums are not.
A business money market account invests company cash in a fund holding short-term, low-risk securities, aiming for a better return than a standard savings account while staying relatively liquid. Rho Treasury offers this as one allocation option alongside US Treasury Bills and a short-term bond fund, with a rate that updates daily and scales with how much you hold, shown at sign-up.
Yes, and at Rho the two products aren't interchangeable. A separate Rho Business Savings Account holds cash for safety and easy access, with up to $75,000,000 in FDIC deposit insurance per entity through a network of partner banks. Rho Treasury is a different product, built for cash you're comfortable leaving invested a little longer, held through SIPC-protected accounts rather than FDIC-insured deposits. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
Yes. Money market funds are available to businesses as well as individuals, though the account structure, minimums, and tax reporting differ from a personal account. Rho Treasury is built specifically for business entities, with statements and integrations that reconcile into company books.
It depends on how much cash you're moving and how fast you need it back. Compare the minimum to open, the fee on invested balances, and how quickly funds settle when you withdraw. See how Rho, Mercury, Brex, and Ramp stack up on those three points, and on stage fit, in the comparison table above.
Enterprise treasury management systems typically handle cash forecasting, multi-entity reporting, and compliance for companies running a dedicated treasury team across many bank accounts and currencies. Rho Treasury solves a narrower, more common problem: what a growing company does with excess operating cash, without hiring a treasury team or standing up separate 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 09/09/2026 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.