Robinhood Debuts Banking and Wealth Management Services with Unique Perks

The fintech firm announces high-yield accounts, cash delivery, and AI-driven tools as part of its transformation into a full-service financial platform.

Robinhood Banking will offer checking and savings accounts with a 4% APY, FDIC insurance up to $2.5 million, and on-demand cash delivery to customers' homes.
The banking service will include premium perks for Gold subscribers, such as access to high-profile events like the Oscars and Met Gala.
Robinhood Strategies, a wealth management service, will provide actively managed portfolios at a 0.25% annual fee, capped at $250 for Gold members.
The company plans to launch Cortex, an AI-powered investment tool, later in 2025 to deliver real-time market analysis and personalized insights.
These initiatives reflect Robinhood's strategy to evolve from a stock trading app into a comprehensive financial services firm targeting retail investors.