Robinhood has sent out an e-mail to some users inviting them to Robinhood Banking ‘the new gold standard of banking’. Features are as follows:
- 3.50% APY on Savings
- $2.5M in FDIC insurance
- $0 Account fee
- 24/7 customer support
Seems that customers with $100,000 in assets with Robinhood will also get free ATMs and free wire transfers. During the earnings call banking was mentioned and it seemed like Robinhood would be pushing it this year and potentially offering 3.5% APY on the checking account as well. Vladimir Tenev (CEO):
“What people love is for those customers, we give you the APY not just on savings, but also on checking”
Hat tip to reader Phil
