Robinhood App Now Offering Checkings and Savings Accounts [NVM, Offer Pulled]

[GoldenGlove]

#NewRules

About to open an account right now and throw bands in it

 

[KevCo]

Please report back...always skeptical of these things

 

[Kamikaze Revy]

I use Robinhood for my stocks.
I throw a couple dollars into the market every now and then.
Nothing serious.
I got the notification about the checking and savings account.
I can't speak to those products, but for anyone on the fence about Robinhood as a company I can say can do business with them with confidence.
I've never had a problem with them.

I don't know if he still does, but I know at some point Nas owned a piece of Robinhood.

 

[GoldenGlove]

Please report back...always skeptical of these things

I haven't done it yet, but I am. The person who let me know about this is a banker so I know it's legit. Just going to decide how much I'm going to put in and if I'm going to make it a joint savings with the Mrs.

I know others have been using Robinhood for a while via investing, @Rekkapryde ... WHAT SAY YOU?

I also hit up my close friend who's a CPA and she was like she about open up an account as well, so my sources telling me this is a no brainer breh

 

[Kamikaze Revy]

I haven't done it yet, but I am. The person who let me know about this is a banker so I know it's legit. Just going to decide how much I'm going to put in and if I'm going to make it a joint savings with the Mrs.

I know others have been using Robinhood for a while via investing, @Rekkapryde ... WHAT SAY YOU?

I also hit up my close friend who's a CPA and she was like she about open up an account as well, so my sources telling me this is a no brainer breh

On the stock side, non-broker assisted trades are free.
I always reccomend Robinhood to anyone interested in dabbling in the stock market for the first time.
You can throw any amount of money into the market and manage it yourself for free.
The app is fantastic and makes the whole process incredibly easy.

 

[Mr. Negative]

yeah, robinhood is boss for stocks/forex/Indicies.

 

[FreshFromATL]

Should I do it?

 

[itsyoung!!]

ive never understood these accounts, even when I was a banker.. safe way to make.. $240 off $8000 I guess? So many more ways to make a better return on $8000 that may not be as safe investment but close enough

And these accounts dont make sense for anyone with big money because once you get into the $700+k private client mark they have guaranteed accounts/bonds that can guarantee you 7+% return. 7% off a million, makes sense to me ($70k a year for basically the bank to use your other funds for other shyt)

$240 for $8000.. doesnt make sense to me.. or $300 for $10k or anything..

I mean I guess its better than nothing but to make $1000 you would need to leave $32k in there.. just seems so low to me still because as a business man (I understand not everyone is a business man) $32k on a party could turn into $50k real quick in a night

but I guess people dont really get rich because they dont take risks.. $8000 into the stock market with a chance to eventually make a big return seems better to me than $240 that I cant even buy an air plane ticket with

 

[GoldenGlove]

ive never understood these accounts, even when I was a banker.. safe way to make.. $240 off $8000 I guess? So many more ways to make a better return on $8000 that may not be as safe investment but close enough

And these accounts dont make sense for anyone with big money because once you get into the $700+k private client mark they have guaranteed accounts/bonds that can guarantee you 7+% return. 7% off a million, makes sense to me ($70k a year for basically the bank to use your other funds for other shyt)

$240 for $8000.. doesnt make sense to me.. or $300 for $10k or anything..

I mean I guess its better than nothing but to make $1000 you would need to leave $32k in there.. just seems so low to me still because as a business man (I understand not everyone is a business man) $32k on a party could turn into $50k real quick in a night

but I guess people dont really get rich because they dont take risks.. $8000 into the stock market with a chance to eventually make a big return seems better to me than $240 that I cant even buy an air plane ticket with

How doesn't it make sense for people using a savings account that aren't seeing 3% on their money?

It's pretty simple why it makes sense

 

[itsyoung!!]

How doesn't it make sense for people using a savings account that aren't seeing 3% on their money?

It's pretty simple why it makes sense

if someone has the patience to save $8000 what they going to do with $240.. like I said, its better than nothing but im definitely of the school of thought process that your money works harder for you outside of the bank

 

[Kamikaze Revy]

ive never understood these accounts, even when I was a banker.. safe way to make.. $240 off $8000 I guess? So many more ways to make a better return on $8000 that may not be as safe investment but close enough

And these accounts dont make sense for anyone with big money because once you get into the $700+k private client mark they have guaranteed accounts/bonds that can guarantee you 7+% return. 7% off a million, makes sense to me ($70k a year for basically the bank to use your other funds for other shyt)

$240 for $8000.. doesnt make sense to me.. or $300 for $10k or anything..

I mean I guess its better than nothing but to make $1000 you would need to leave $32k in there.. just seems so low to me still because as a business man (I understand not everyone is a business man) $32k on a party could turn into $50k real quick in a night

but I guess people dont really get rich because they dont take risks.. $8000 into the stock market with a chance to eventually make a big return seems better to me than $240 that I cant even buy an air plane ticket with

Not everybody is swimming in chips like Scrooge McDuck.
Also, some people are very conservative with their finances. There's nothing wrong with that.
Sure you can put your money into something with significant'y higher returns, but you'll also see a higher risk for that.
There's no one size fits all solution to investing.
We all have different income levels, and more importantly when it comes to these decisions, we all have different goals.

 

[GoldenGlove]

if someone has the patience to save $8000 what they going to do with $240.. like I said, its better than nothing but im definitely of the school of thought process that your money works harder for you outside of the bank

I get that. I'm just saying, if I'm using a savings account and getting less than 1% why not switch?

Then the bit about no fees across the board is a good look as well.

 

[greenvale]

is it fdic insured?

 

[PS5 Pro]

ive never understood these accounts, even when I was a banker.. safe way to make.. $240 off $8000 I guess? So many more ways to make a better return on $8000 that may not be as safe investment but close enough

And these accounts dont make sense for anyone with big money because once you get into the $700+k private client mark they have guaranteed accounts/bonds that can guarantee you 7+% return. 7% off a million, makes sense to me ($70k a year for basically the bank to use your other funds for other shyt)

$240 for $8000.. doesnt make sense to me.. or $300 for $10k or anything..

I mean I guess its better than nothing but to make $1000 you would need to leave $32k in there.. just seems so low to me still because as a business man (I understand not everyone is a business man) $32k on a party could turn into $50k real quick in a night

but I guess people dont really get rich because they dont take risks.. $8000 into the stock market with a chance to eventually make a big return seems better to me than $240 that I cant even buy an air plane ticket with

Banker boy, how does 7% on a million dollars make sense to you when you're renting out a 1/2 bedroom with a toilet (no tub)

 

[Mortal1]

I have some stocks with Robinhood I may open this account