The competition for deposits continues as Wealthfront has raised the interest rate on their cash account from 2.29% to 2.51%; The FDIC-insured offering was launched back in February and quickly brought in $1 billion in deposits; currently competitors Marcus and Ally Bank offer 2.25% and 2.20% respectively; Wealthfront has more plans to offer bank like features this year including bill pay, direct deposit and debit cards. Source
