US brokers, just like their UK counterparts, normally keep their clients' cash reserves in special interest earning accounts. Any initial funds your bank sends to the broker as part of the procedure of opening an account will go first into an account like this.
Some brokers offer other forms of banking facilities with such accounts, including chequebooks and credit cards. If you travel regularly to the US, this can be a useful service. Otherwise, a higher interest rate on uninvested cash may be a better option than banking facilities you don't need. Remember that there is no tax on interest income earned by non-residents.
Your US broker may also offer to keep your uninvested cash in a money market mutual fund. Your cash and the cash of other clients will be invested in short term money market instruments which offer preservation of capital and instant access, together with dividends that produce a return a bit better than a typical bank deposit.
You may, for peace of mind, prefer a bank deposit. It is worth checking with your broker what type of account your uninvested funds are being invested in, and what tax treatment applies to any interest or dividends earned.
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