To get around the$250,000 FDIC limitation per bank, Robinhood is partnering with six banks that it will spread out a user’s money across as necessary to bundle up to that amount. There the money earns a variable yearly portion yield (APY)that might fluctuate based on market factors like the Fed fund’s rate. Cash Management users can select from the four debit card designs that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. A range 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.

There the money 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 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.