There the cash makes a variable yearly percentage yield (APY)that may fluctuate based on market aspects 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. The larger method is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.

To get around the$250,000 FDIC limit per bank, Robinhood is partnering with 6 banks that it will spread out a user’s money throughout as necessary to bundle up to that sum. There the cash earns a variable annual portion yield (APY)that may fluctuate based on market factors 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. 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.