Deal has ended, view more Robinhood deals by clicking here.
The Offer
- Robinhood is offering some customers 5% cash back on deposits up to $150 back.
The Fine Print
- The deadline to deposit for this reward is February 19, 2021.
- The reward will automatically appear in your account balance once your deposit clears.
Our Verdict
Keep in mind Robinhood has had a lot of issues in the past, including placing buy order limits recently. That being said a 5% reward is nice, funds need to be kept in the account for 60 days.
View Comments (61)
For those upset with them, deposit $3k and pull the bonus after the required 60 days. You get a lofty return, they get boned. And if you aren't upset with them, understand that they're finished and have been since everyone else went to free trades. Might as well transfer some silly venture capital dollars into your pocket while you can.
I cannot get my money out of Robinhood fast enough.
well, they haven't targeted me but I feel strongly that I SHOULD be paid to stick around a few more months (while I wait for the exodus to stop clogging the systems and better transition guides to be published)
Terrible low quality broker. Forget GME, remember instead how their app became unusable on heavy trading days multiple times in 2020. I would do the deal for the free money.
Sure but I think they have learnt from that and stepped up their game. They are more resilient to high load now (compared to other brokerages) - there were many reports of the other big names going down last month but RH stayed put and allowed trades to be placed.
Poor attempt on them to retain their customers after what they did with GME.
The lawsuits will cost them more than $150 per customer I'm sure.
DP: For everyone looking for an email, I opened up the app and on the home screen notifications I found the offer.
I mainly use Schwab after their debacle last week. Will deposit the max, take their 5%, pay my taxes and then delete the app forever.
Take their money and then withdraw it to a real broker.
Guess begging their investors for a 3rd round of liquidity didn’t work?
Hard pass. I don’t put cash into banks/brokers with known liquidity issues, not worth the hassle if they go under.
YEP. not gonna put one red cent into this. i'd rather just load up TAB Bank and get 1% tax free on debit purchases
Wait time - you have to fund the account for 60 days. After you claim the reward, you have to keep the reward in the account for 60 days. I assume you can't claim the award until you've funded for the first 60 days, but I don't know for sure. If you don't claim the reward within 30 days of it being awarded, you lose it. At least that’s what clicking on the “direct link to offer” says
You're targeted if you got the email. No email, not targeted. At least that's what clicking on the "direct link to offer" says