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

[winb83]

Robinhood checking and savings products are not insured, SIPC says
The money isn't insured by anyone. SIPC who Robinhood claims the money was insured by said if the account isn't for securities they won't insure the account. It's not FDIC insured either. My Discover account pays about 2% and is FDIC insured. I'll stick with that.

 

[Bboystyle]

Anybody arguing a 3% annual return on their savings is a fukking retard. No bank or financial institiute is topping that atm.

 

[Reality]

Do your research brehs. 3% is good but Robinhood isn't insured by the SIPC like it claims to be. There are also banks offering ~2-2.4% that are FDIC insured. 3% is great but this isn't a bank.

and lol @ homey in here commenting like he fundamentally doesn't understand the concept of a checking or savings account.

 

[Return of the Jedi]

Not insured means I'm out. I'll stick with USAA.

 

[winb83]

Anybody arguing a 3% annual return on their savings is a fukking retard. No bank or financial institiute is topping that atm.

I'd argue that your money parked in a bank account that offers zero protection if the account issuer folds isn't worth an extra 1-1.5% interest on your money. 3% isn't that high a number given the risk. Ally gives you 2% currently and is FDIC insured.

 

[PS5 Pro]

I dont know? 1000 square feet? you tell us? Is the deed even in your name or your wifes name


fake rules youve never made bank in your life how you gonna speak on something youve never experienced


Crack? is it crack you smoke? How many times do we have to go over this?? I am 31 years old, majority of my life after 21 ive lived on my own for a short period of time (little less than a year) that you are referencing I lived with 1 roommate in a 4 bed room 3 bath house...

while you still 45 years old greeting people at wal mart

I would ask if you ever had a roommate before but youve been broke for all your adult life bumming it up for now 2 decades and its obvious you leech off your wifes work to even have a roof over your head.

How you the bytch in your relationship

you must sit when you pee

Yes I sit when I pee all the time, I'm potty training my daughter now in your shemotional rant you've failed to say the size of my food truck/house. How big is your house tho and why are you being so elusive? You talking about deeds, man of the house. Bruh, shut your lil dumbass up. You live alone and you're an alcoholic. Even your pet ran away, plus you watch Naruto in your draws while eating cereal for dinner

Of course its not breh lol

I have a finance background. But for 99.9% of the population, this is an amazing rate.

The only thing is they're SIPC and not FDIC insured so they don't provide blanket coverage. . I'll stick with Goldman Sachs as my main.
Private client status is an entirely different level that most people don't even see (and there's better ways to invest that $700k)

You don't know who you dealing with bruh, homey throws Ray J sized parties n shyt, got indoor pools outdoor pools, a stretch hummer with a pool table inside of it. Schoolboy Q poolside because his name rhymes with pool

 

[itsyoung!!]

Even your pet ran away, plus you watch Naruto in your draws while eating cereal for dinner

I dont have a pet and I dont watch anime

ow in your shemotional rant you've failed to say the size of my food truck/house.

its literally the first line of the post

ou don't know who you dealing with bruh, homey throws Ray J sized parties n shyt, got indoor pools outdoor pools, a stretch hummer with a pool table inside of it. Schoolboy Q poolside because his name rhymes with pool

funny enough we'll probably around $1.5-2million worth of cars outside the party tonight

you wouldnt understand

 

[Liquid]

Uninsured is a big no for me. I'm out

 

[Fctftl]

Been usin em for stocks since 2015. Was bored as fukk in Iraq n chilled on robin hood makin trades

 

[Return of the Jedi]

Been usin em for stocks since 2015. Was bored as fukk in Iraq n chilled on robin hood makin trades

It's awesome when military folks invest at all. The dudes I work come back from deployments with WRXs with 13%APR

 

[GoldenGlove]

Of course its not breh lol

I have a finance background. But for 99.9% of the population, this is an amazing rate.

The only thing is they're SIPC and not FDIC insured so they don't provide blanket coverage. .

So does this mean their accounts aren't fully insured for fraud/losses like your standard banks?

 

[GoldenGlove]

Yeah, that insurance bit made me fall back.

Salute yal for bringing that up

 

[Fctftl]

It's awesome when military folks invest at all. The dudes I work come back from deployments with WRXs with 13%APR

Or their wives spent their deployment checks

My squad leader blew 3 grand first night back at the strip club

 

[winb83]

Yeah, that insurance bit made me fall back.

Salute yal for bringing that up

Also keep in mind that anything over $250,000 in a single bank isn't insured if it's all in a single account.

FDIC is that per bank so if you have $500,000 in savings in a single bank half of it isn't insured but if you split it $250,000 between 2 banks all of it should be insured. Or you can do a single bank but change product types.

 

[Return of the Jedi]

Or their wives spent their deployment checks

My squad leader blew 3 grand first night back at the strip club

Like the Lieutenant/Captain? You would think a lot of officers are good with their dough, but they're not.