To get around the$250,000 FDIC limitation per bank, Robinhood is partnering with six banks that it will spread a user’s cash across as essential to bundle up to that sum. There the cash makes a variable yearly portion yield (APY)that might vary based on market elements like the Fed fund’s rate. Cash Management users can choose from the four debit card designs that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. A variety of new Cash Management features are being added to the Robinhood app. The larger strategy is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.

There the cash makes a variable annual portion yield (APY)that may change based on market factors 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. The bigger strategy is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.