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Robinhood is an online brokerage that offers commission-free investment and trading through its website and mobile app. Investors can buy and trade stocks, options, efts, and now even cryptocurrency without having to pay fees for the transactions. They now offer a cash management feature that works similar to an online checking account. Robinhood was founded in 2012 and is now based out of California. It is a member of SIPC and FINRA.
Checking Account + Stock Brokerage in One App
- Customizable ATM
- 75,000 ATMs + 15,000 International
- Zero Hidden Fees
- FDIC Insured
Although it’s not an online checking account that can be opened independently through a bank, Cash Management does allow existing Robinhood customers to access their uninvested cash, even offering a debit card for transactional purposes.
What’s more, the money you have in the cash management feature earns interest, with a current variable APY (as of June 2022) of 1.00%.