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In A Bold Asset Grab, Robinhood Offers 3% Interest On Checking And Savings AccountsFollowing in the footsteps of other fintech startups, Robinhood is entering the checking and savings accounts business. But in a bold marketing move, it's offering 3% interest on both checking and savings accounts, the highest rate on the market. What do they intend to do with the money to make a return on their interest payment? What's the catch? Wouldn't give them a cent unless they are Federally Insured.
Source: Forbes - 🏆 394. / 53 Read more »
In A Bold Asset Grab, Robinhood Offers 3% Interest On Checking And Savings AccountsFollowing in the footsteps of other fintech startups, Robinhood is entering the checking and savings accounts business. But in a bold marketing move, it's offering 3% interest on both checking and savings accounts, the highest rate on the market. “Robinhood invests the cash placed in these accounts in low-risk assets such as U.S. treasuries.” 😂😂😂 This may disrupt the banking industry. Good. It's time traditional banking falls. But most of you don't own property so HAHA!!! Available outside US?
Source: Forbes - 🏆 394. / 53 Read more »
Robinhood tempts savers with 3% interest on checking accounts — should consumers hand over their cash?It's not just Robinhood: Online investment firm Wealthfront plans to begin offering a beta version of checking and savings accounts in the first quarter of 2019 ZakSandeman Checking/savings are typically insured by the FDICgov. As far as I can tell, this offering is not FDIC insured as it isn't a traditional banking account. sipc has indicated that it may not be protected either. Be careful. Robin Hood has now created a dubious event in their nascent history..... seems like they need more adults in the room asking qs and vetting ideas before announcing an half baked thought.
Source: MarketWatch - 🏆 3. / 97 Read more »
Robinhood, the start-up upending stock trading, goes after banks with a 3% savings accountPopular online stock-trading platform Robinhood is offering checkings and savings accounts that pay 3% interest on a daily basis. Come to Canada please! kaylagaynerd Robin Hood is tempting the rich using greedy 3% interest rates. Once they blow up big, your money will be stolen and then distributed to some of the world's poor. You heard it here first. Its name is Robin Hood for crying out loud, and there is no FDIC oversight. Dont get rekt.
Source: CNBC - 🏆 12. / 72 Read more »
Bank analyst rips Robinhood's new savings account plan, says regulators may get involvedUBS says Robinhood's new accounts with an eye-popping interest rate are 'skirting very close to actual banking and therefore could draw regulatory scrutiny.' UBS is nervous! RobinhoodApp Jealous of competition maybe? I sure hope they are still able to do this!!
Source: CNBC - 🏆 12. / 72 Read more »
SIPC Head Has Concerns About Robinhood’s Checking and Savings ProductsRobinhood recently announced new high-interest checking and savings-account products and said they were insured by the SIPC. But now the head of the SIPC says Robinhood didn't contact the organization before releasing the products, and he has major concerns with them. Mira chuchuki_6 If it is not FDIC insured, it should be clearly stated. Otherwise it is fraudulent misrepresentation.
Source: Forbes - 🏆 394. / 53 Read more »
SIPC Head Has Concerns About Robinhood’s Checking and Savings ProductsRobinhood recently announced new high-interest checking and savings-account products and said they were insured by the SIPC. But now the head of the SIPC says Robinhood didn't contact the organization before releasing the products, and he has major concerns with them.
Source: Forbes - 🏆 394. / 53 Read more »
Robinhood is launching high-interest, no-fee checking and savings accounts in its latest bid to ‘democratize America’s financial system’ — and it doesn't care about losing money day 1Robinhood is offering checking and savings accounts to customers that will feature 3.0% interest rates and no fees. If a bank doesn’t care about making money, and your money is in that bank, then... Unbelievable company that is one of the greatest disrupters we have seen since Amazon. Truly changing the landscape of financial services forever. Earn 5.09% APY* On balances up to $10,000
Source: BusinessInsider - 🏆 729. / 51 Read more »