Robinhood Banking expands with high-yield accounts, wealth management, and AI tools, shaking up private banking and financial services.

Private Banking Shake-Up: Robinhood's Ambitious Expansion

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Private Banking Shake-Up: Robinhood&#8217;s Ambitious Expansion

Meyka

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Zehra Naz

Robinhood Banking is a new service offering online checking and savings accounts with a 4% annual percentage yield (APY) and <a href="https://www.theverge.com/news/636733/robinhood-banking-launch-cash-deliveries?">FDIC insurance up to $2.5 million</a>.

What is Robinhood Banking?

No, Robinhood is not a bank. It partners with banks like <a href="https://www.theverge.com/news/636733/robinhood-banking-launch-cash-deliveries?">Coastal Community Bank </a>to provide banking services. ​

Is Robinhood a bank now?

Robinhood is a financial services company known for its commission-free stock and crypto trading. Its mission is to democratize finance for all.​

What is Robinhood?

Robinhood expanded its services to include banking and wealth management, reflecting its growth beyond stock trading. ​

What happened with Robinhood?

Robinhood operates on a freemium model. It earns revenue through payment for order flow, premium subscriptions like Robinhood Gold, and interest on cash balances.​