Home / Cash interest
A41BTT or interest on your broker cash?
Many brokers now pay interest on money sitting uninvested in your account. So do you still need a money market ETF at all? Here’s an honest comparison.
Last updated: 06/11/2026
Two options
Similar interest – different rules #
Both options pay roughly the ECB’s key interest rate. The difference lies in who sets the rate, how your money is protected and what it costs.
Interest on cash #
- Convenient No buying, no selling – the interest is paid automatically, and the money is available instantly.
- The broker sets the rate The rate is usually based on the ECB deposit facility rate, but it can be cut, capped or tied to conditions at any time.
- Deposit protection – usually If the cash is held at a bank, it is protected by law up to €100,000. Some brokers, however, invest cash balances in money market funds.
- No trading costs There are no trading fees and no spread.
A41BTT #
- Interest set by the market The ETF automatically tracks €STR – no broker can cut or cap your rate. Only the additional swap premium isn’t guaranteed and may fall.
- No maximum amount Even large sums earn the full rate, with no promotions and no conditions.
- Ring-fenced assets instead of deposit protection The fund’s assets are kept separate from the fund company – however much you invest. More under Safety.
- Small trading costs You pay a trading fee and the spread when buying and selling. After a sale, it usually takes two banking business days before the money is paid out.
Comparison
Side by side #
| A41BTT | Cash balance | |
|---|---|---|
| Interest | €STR (currently 2.439%), minus 0.10% TER; at present plus a swap premium (not guaranteed) | set by the broker, usually close to the ECB deposit facility rate |
| Rate changes | automatic, every banking business day | at the broker’s discretion |
| Maximum amount | none | depends on the broker, sometimes capped |
| Conditions | none | sometimes only with a subscription, for new customers or if you opt in to money market funds |
| Protection | ring-fenced fund assets | deposit protection up to €100,000 per bank if the money is held at a bank |
| Access | can be sold on any trading day, paid out after approx. 2 days | instant |
| Costs | TER, trading fee, spread | none |
| Tax | investment income – more under Tax | investment income |
Current rates · Ireland
What brokers pay on cash #
Selected brokers that pay interest on uninvested cash. Rates change often – usually when the ECB adjusts its interest rates.
We don’t have an overview for this country yet. Many brokers pay interest on cash – you’ll find the rate, any cap and the protection in your broker’s terms and conditions.
Verdict
Which suits you? #
Interest on cash is enough if … #
- … your broker pays a fair rate If the rate is close to €STR and comes with no strings attached, there’s little reason to buy an ETF.
- … you’ll need the money soon For a few days or weeks, the spread and trading fees aren’t worth it.
- … the amount stays below the cap Many offers only apply up to a maximum amount or up to the €100,000 deposit protection limit.
A41BTT is the better fit if … #
- … your broker pays little or nothing Many banks and brokers pay no interest on cash balances at all, or very little.
- … you’re dealing with larger sums No maximum amount and no €100,000 limit per bank.
- … you want to stay independent The ETF follows the market – no broker can cut the rate at short notice or tie it to a subscription.
Ready for A41BTT? #
Find brokers for your country and the key buying tips here.