To get around the$250,000 FDIC limitation per bank, Robinhood is partnering with 6 banks that it will spread a user’s cash throughout as necessary to bundle up to that amount. There the cash earns a variable yearly portion yield (APY)that may change based on market elements like the Fed fund’s rate. Cash Management users can choose from the 4 debit card designs that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. A range of new Cash Management functions are being added to the Robinhood app. The larger technique is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.

There the money makes a variable annual percentage yield (APY)that might vary based on market elements like the Fed fund’s rate. Cash Management users can pick from the 4 debit card designs that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. The larger technique is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.