Morgan Stanley Launches CashPlus: A Modern Alternative to Banking that Offers Better Ways to Manage Cash Activities

Morgan Stanley today announced the launch of CashPlus, a new brokerage account that offers clients a modern alternative to banking. The CashPlus Account replaces the Premier Cash Management program. CashPlus, the next generation of cash management at Morgan Stanley, puts a client’s cash activities front and center, while offering a wide range of benefits and a seamless digital experience.

“With a Morgan Stanley CashPlus Account, clients have an alternative to a bank experience designed around their needs. They receive personalized service and advice, exceptional value, enhanced protection and a digital-first experience,” said Paul Halpern, Head of Deposits and Banking Services, Morgan Stanley Private Banking Group.

CashPlus offers two account types -- Premier CashPlus and Platinum CashPlus – and comprises three categories of differentiating benefits:

No Cash Management Fees, Exceptional Access and Benefits

• Unlimited ATM fee rebates worldwide
• Unlimited check writing
• No foreign transaction fees and no cash advance fees¹
• Cash access from banks or tellers that accept Mastercard

Comprehensive Protection

• Insufficient Funds Coverage²
• Identity and credit protection from Experian®
• Enhanced benefits from Mastercard³ including Extended Warranty^*, Satisfaction Guarantee^*, and Price Protection^* with the Morgan Stanley Debit Card
• SIPC and FDIC coverage⁴, both up to applicable limits

Seamless Digital Experience across a suite of online tools

• Enhanced display of cash activities
• Debit card lock and unlock
• Ability to set alerts for account activity – set customized alerts, such as low available cash balance
• Online bill pay⁵ – pay bills one at a time or set up recurring payments
• eAuthorizations – electronically authorize domestic and international wire transfers on Morgan Stanley Online (MSO) and Morgan Stanley Mobile (MSM) without needing a letter of authorization or additional confirming conversation
• Send Money with Zelle® -- send or receive money with almost anyone you know and trust in minutes from MSO or MSM
• Mobile check deposit⁶ – deposit checks remotely using MSM, straight from an Apple® or Android™ device

Premier CashPlus and Platinum CashPlus benefits

Premier CashPlus and Platinum CashPlus both offer additional benefits, such as up to two and four enrollments in Experian, respectively. Both account types also offer access to Morgan Stanley Cards from American Express, created exclusively for Morgan Stanley clients. The Morgan Stanley Credit Card from American Express offers rewards on eligible purchases along with the flexibility to pay overtime with interest.

With a Platinum CashPlus Account, clients may be eligible to receive a $550 Annual Engagement Bonus⁷ from Morgan Stanley when they become Card Members of the Platinum Card from American Express Exclusively for Morgan Stanley. Platinum Cardholders also enjoy enhanced benefits as well as:

• An Additional Platinum Card for no annual fee, exclusive to Morgan Stanley clients
• Invest with Rewards points that can be used for deposits by Morgan Stanley clients into their qualifying CashPlus Account

CashPlus Accounts feature fee avoidance criteria⁸ for clients who don’t want to pay the monthly account fee. These criteria include opening and/or maintaining an additional eligible Morgan Stanley investment account, enrollment in Morgan Stanley Online, and:

• For Premier CashPlus Accounts -- either $2,500 in total monthly deposits or social security deposits of any amount or $25,000 in average daily Bank Deposit Program (BDP) balance
• For Platinum CashPlus Accounts – both $5,000 in total monthly deposits or social security deposits of any amount and $25,000 in average daily BDP balance

For additional information on CashPlus, please visit: https://www.morganstanley.com/cashplus

Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

©2020 Morgan Stanley Smith Barney LLC. Member SIPC.

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The CashPlus Account is a brokerage account offered through Morgan Stanley Smith Barney LLC. Conditions and restrictions apply. Please refer to the CashPlus Account Disclosure Statement for further details at https: //www.morganstanley.com/wealth-disclosures /cashplusaccountdisclosurestatement.pdf.

The Morgan Stanley Debit Card is issued by Morgan Stanley Private Bank, National Association pursuant to a license from Mastercard International Incorporated. Mastercard and Maestro are registered trademarks of Mastercard International Incorporated. The third-party trademarks and service marks contained herein are the property of their respective owners.

Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

* Certain terms, conditions, restrictions and exclusions apply. Please refer to the Morgan Stanley Debit Card Terms and Conditions at http://www.morganstanley.com/debitcardterms for additional information.

† The qualifying criteria to avoid the monthly account fee for all CashPlus Accounts in an Account Link Group (ALG) is: an additional eligible Morgan Stanley investment account (that may include additional fees), one Morgan Stanley Online enrollment; for Premier CashPlus account $2,500 monthly deposit or social security deposit or $25,000 Average BDP Daily Balance; for Platinum CashPlus account $5,000 monthly deposit or social security deposit and $25,000 Average BDP Daily Balance. For more information, please refer to the CashPlus Account Disclosure Statement at https://www.morganstanley.com/wealth-disclosures/cashplusaccountdisclosurestatement.pdf.

Securities Investor Protection Corporation (“SIPC”) — Morgan Stanley Smith Barney LLC is a member of SIPC, which protects securities of its customers up to $500,000 (including $250,000 for claims for cash). Losses due to market fluctuation are not protected by SIPC. To obtain information about SIPC, including an explanatory SIPC brochure, contact SIPC at 1-202-371-8300 or visit www.sipc.org.

Federal Deposit Insurance Corporation (“FDIC”) — Cash balances swept into deposit accounts at participating banks in the Bank Deposit Program are protected by FDIC Insurance up to applicable FDIC limits. FDIC insurance is a federal government program administered by the Federal Deposit Insurance Corporation. This insurance covers bank deposits held in checking accounts, savings accounts, certificates of deposits and money market deposits (not money market funds). This insurance comes into play in the event of a bank failure and covers client cash up to a total of $250,000, per bank, for each “insurable capacity” (e.g. each individual, joint, etc.). It does not cover investment products that are not deposits, such as mutual funds, annuities, life insurance policies, stocks or bonds. Refer to https://www.fdic.gov for additional details.

The Platinum Card® from American Express exclusively for Morgan Stanley is only available for clients who have an eligible Morgan Stanley Smith Barney LLC brokerage account (“eligible account”). Eligible account means a Morgan Stanley Smith Barney LLC brokerage account held in your name or in the name of a revocable trust where the client is the grantor and trustee, except for the following accounts: Charitable Remainder Annuity Trusts, Charitable Remainder Unitrusts, irrevocable trusts and employer-sponsored accounts. Eligibility is subject to change. American Express may cancel your Card Account and participation in this program, if you do not maintain an eligible account. Morgan Stanley Smith Barney LLC may compensate your Financial Advisor and other employees in connection with your acquisition or use of the Platinum Card® from American Express exclusively for Morgan Stanley.

The Platinum Card® from American Express exclusively for Morgan Stanley is issued by American Express National Bank, not Morgan Stanley Smith Barney LLC. Services and rewards for the Cards are provided by either Morgan Stanley Smith Barney LLC, American Express, or other third parties. Restrictions and other limitations apply. See the terms and conditions for the Cards for details. Clients are urged to review fully before applying. Morgan Stanley, its affiliates, and Morgan Stanley Financial Advisors and employees are not in the business of providing tax or legal advice. Clients should speak with their tax advisor regarding the potential tax implications of the Rewards Program upon their specific circumstances.

American Express may share information about your Card Account with Morgan Stanley in support of Morgan Stanley programs and services. For information as to how Morgan Stanley will use your Card Account data please visit https://www.morganstanley.com/wealth/investmentsolutions/pdfs/adv/mssb_privacynotice.pdf

The Platinum Card® from American Express Exclusively for Morgan Stanley is issued by American Express National Bank. ©2020 American Express National Bank.

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