To get around the$250,000 FDIC limitation per bank, Robinhood is partnering with 6 banks that it will spread a user’s cash across as essential to bundle up to that amount. 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 choose from the 4 debit card styles 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 bigger 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 aspects like the Fed fund’s rate. Cash Management users can pick from the four debit card designs that are accepted anywhere that takes Mastercard, plus 75,000 ATMs. The bigger method is to get more users on Robinhood in hopes some will subscribe to Robinhood Gold.