There the cash makes a variable annual percentage yield (APY)that might fluctuate based on market aspects like the Fed fund’s rate. Cash Management users can pick from the four debit card styles that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. The bigger strategy is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.

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