To get around the$250,000 FDIC limitation per bank, Robinhood is partnering with 6 banks that it will spread a user’s money across as required to bundle up to that sum. 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 select from the 4 debit card designs that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. A range of brand-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 money makes a variable yearly portion yield (APY)that may vary based on market factors like the Fed fund’s rate. Cash Management users can select from the four debit card styles 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.