5 Things To Know About Cash Management

Earn 1.80% APY on your uninvested cash

We’re thrilled to share that Cash Management is rolling out to the first set of customers today. Here’s what you need to know to get started with Cash Management:

Why should I try Cash Management? 

Get more flexibility with your brokerage account to invest, spend, and earn interest with a competitive 1.80% Annual Percentage Yield (APY)* as of October 30, 2019. You’ll start earning interest on your first dollar!

Use your Robinhood debit card anywhere Mastercard® is accepted, or withdraw cash from 75,000+ free ATMs. You can also pay bills, and use Apple Pay, Samsung Pay, or Google Pay. Plus there are no account minimums, no transfer fees, no foreign transaction fees — the list goes on. Other fees may still apply to your brokerage account.

Earn 1.80% APY

How do I earn interest?

Interest is paid monthly based on the uninvested cash in your brokerage account. Uninvested cash is money you have in your brokerage account that you plan to invest, but haven’t yet invested or spent. Behind the scenes, we’ll move this cash to banks who pay the interest and provide FDIC insurance, subject to FDIC limits.  

You can easily keep track of how much you’ve earned in the app. The current APY is 1.80% as of October 30, 2019. Like any variable rate, it may go up or down over time at the banks’ discretion, due to factors including market conditions. Learn more about earning interest.

How is my money insured?

When you upgrade to Cash Management, your uninvested cash in the banks is eligible for FDIC insurance up to a total of $1.25 million - or up to $250,000 per bank, subject to FDIC rules. Learn more about FDIC insurance.

How do I get a Robinhood debit card?

We’ll send you a customized debit card for easy access to your cash when you upgrade to Cash Management. Choose from four card designs: Green, Black, White, and the American Flag. 

How can I get Cash Management?

Cash Management is rolling out to the first set of customers on the waitlist today! You can still join the waitlist to get notified when Cash Management is available for you. 

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*Cash Management is an additional feature offered as part of your Robinhood Financial LLC brokerage account. Neither Robinhood Financial LLC nor any of its affiliates are banks. The debit card is issued by Sutton Bank, member FDIC, pursuant to a license by Mastercard® International, Incorporated. 

Ten Million Thanks

More than 10 million people now have accounts on Robinhood

We’re delighted to share that more than 10 million people have accounts on Robinhood. 

We believe participation is power. We founded this company to break down barriers to our financial system. To do that, we spent our earliest days holding customer research sessions, so we could better understand how to serve a new generation of investors. 

Rooted in this customer focus, we pioneered commission-free stock and ETF trading with no account minimums. And since then, we’ve added commission-free options trading, commission-free crypto trading through Robinhood Crypto, our premium offering Robinhood Gold, the Robinhood Snacks newsletter and podcast, and soon, a competitive interest rate on uninvested cash through your brokerage account. 

As a result, we’re seeing changes across the industry: Other brokerages have dropped their commission fees, removing a needless barrier from the financial lives of millions. 

The future of Robinhood will be about continuing to listen so we can expand to more services that pass value back to you -- and keep challenging the industry in the process. 

Thank you for being part of this movement. We have a lot more in store for you.

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Robinhood Welcomes Anne Hoge as Chief Legal Officer

Anne will also join Robinhood’s executive leadership team

We are excited to announce that Anne Hoge has joined Robinhood as Chief Legal Officer, overseeing our entire legal team which includes all global legal functions. In this role, Anne will also be a member of our executive leadership team.

“We are thrilled to have Anne join our leadership team as we continue working to expand the financial services we offer our customers,” said Vlad Tenev, Co-Founder and Co-CEO at Robinhood. “In addition to her proven legal experience at global high-growth technology companies, her commitment to high standards of excellence is one we share here at Robinhood.  We’re incredibly fortunate to have her expertise as our company continues to scale.”

“Robinhood’s passion for its customers and the profound impact the company has had on moving the industry to better serve people are truly inspiring, and I’m delighted to be joining the team,” said Anne Hoge, Chief Legal Officer at Robinhood. “There’s immense opportunity still ahead, and I look forward to working with the entire team to continue democratizing our financial system.”

Anne has an extensive background managing global legal, compliance, and public policy teams at leading technology companies. She served as General Counsel at WhatsApp where she led the global legal team responsible for all legal matters and compliance and prior to that, Anne held senior legal roles at NetApp and Yahoo. Anne received a B.A. in Communication from Stanford University, a Graduate Diploma in Media, Communications & Information Technology Law from the University of Melbourne, and a J.D. from University of Notre Dame Law School.

Anne will serve on our executive leadership team, which includes Co-Founders and Co-CEOs Vlad Tenev and Baiju Bhatt, Chief Financial Officer Jason Warnick, and Chief Operating Officer Gretchen Howard.

Welcome to Robinhood, Anne!

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Robinhood Is Coming to the UK

Invest in thousands of stocks commission-free

In 2013, Robinhood set out on a mission to democratize the financial system. We pioneered commission-free investing in the US to enable everyone to participate in the markets. Since then, over six million Americans have discovered Robinhood. 

Today, we’re excited to continue our journey and introduce the Robinhood investing platform to the UK. With Robinhood, you can invest in thousands of US and global stocks, commission-free. There are no foreign exchange fees and no account minimums. Sign up today to get early access when we launch in early 2020. 

Get Early Access

Invest commission-free in a few taps

Invest commission-free in some of the world’s most popular companies, including Nike, Amazon, and Apple. Choose from over 3,500 US stocks and over 1,000 global stocks, including Burberry, BMW, Barclays. Learn more about Robinhood UK.

Get started with confidence

Learn to navigate the markets and stay on top of your investments with a variety of free features. Get access to business news articles and videos from trusted sources, including The Wall Street Journal, Reuters, and CNN Business. View analyst ratings, earnings snapshots, candlestick charts, and stay in the loop with price movement alerts, watchlists, and more. 

Upgrade to Robinhood Gold for premium features including Level II market data, in-depth research reports, and more advanced tools such as margin investing for experienced investors. 

Fund your account in an instant

Top up your account with your debit card, Apple Pay, or Google Pay, and withdraw your cash just as easily. We use an independent mid-market exchange rate without fees or markups.

Regulated by the Financial Conduct Authority

Robinhood U.K. Ltd is authorized and regulated by the FCA, the conduct regulator for financial services firms and financial markets in the UK, and we use industry standards to ensure your account is safely secured. 

Protected by SIPC

Your securities and cash are held by Robinhood Securities, LLC. Robinhood Securities is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. Learn more about how you’re protected. Robinhood will be available in the UK in early 2020. Sign up to be one of the first to get access.

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Robinhood Crypto Launches In Eight More States

Since Robinhood Crypto launched last year, we’ve been committed to giving people across the country access to commission-free crypto trading and improving our crypto business. 

Today, we’re bringing crypto trading to eight more states: Delaware, Kentucky, Louisiana, Maine, Maryland, Minnesota, Nebraska, and Vermont. Robinhood Crypto is now available in 46 states and Washington D.C., and we’ll continue expanding to more. You can buy and sell seven coins including Bitcoin, Ethereum, and Litecoin, commission-free. You can also track real-time market data for those and ten additional coins. See where we’re currently available here.

We’re also thrilled to welcome Sina Nader as our Head of Crypto. With an extensive background working in both the crypto industry and at some of the world’s leading banks, Sina brings valuable experience from roles that span the financial system. He recently joined Robinhood to oversee and strengthen our crypto business, and ensure that we continue to deliver more value to our customers. Sina will also focus on our custody system, a core part of Robinhood Crypto, and keeping our platform secure. 

As Robinhood Crypto continues to grow and serve more people, the safety of your coins and the overall business remains a top priority. Our custody system uses state-of-the-art cryptographic controls to provide a high level of security. Our cold storage, where we hold the majority of your coins, is built with systems that are entirely disconnected from the internet. This gives our custody system an additional layer of protection against breaches. 

Furthermore, we have systems in place to ensure that coins cannot be moved or accessed by any one person and that multiple levels of approvals are required.

We also have a crime insurance policy that protects a portion of the assets held across our custody system against losses from theft, including cybersecurity breaches. The policy is underwritten by certain underwriters at Lloyd’s, the world’s leading insurance marketplace, and placed by Lloyd’s registered broker, Aon. Learn more about crypto custody.

Given the strong interest in crypto, we’re excited to continue providing you with a great experience as part of our mission to democratize our financial system.

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Options Stop Limit Orders Are Here

Today, we’re adding stop limit orders for options to Robinhood, a frequently requested feature among options investors. 

Stop limit orders add a trigger to your trade, giving you more specificity over your order execution. When the options contract hits the stop price that you set, it triggers a limit order. Then, the limit order will be executed if options contracts are available at your specific limit price or better. Investors may use stop limit orders to help limit loss or protect a profit. Keep in mind that options trading is not suitable for all investors.

As always, you don’t pay commission or per contract fees when you trade options on Robinhood (currently, some platforms still charge up to $0.65 per contract fees).

To place a stop limit order, tap the gear icon in the upper right corner on the options order screen (select  “⋯”  on Web), and add a “Stop Price.” Learn more about stop limit orders and other order types.

We’re excited to roll out stop limit orders for options in the coming weeks.

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