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Robinhood Gold + Cash Management

Robinhood Gold + Cash Management

You can get even more out of Robinhood Gold with Cash Management. If you’ve enabled “Margin Investing,” you can use margin for day-to-day spending and withdrawals.

Here’s an example of how you can utilize Robinhood Gold and Cash Management together:

Have $5,000 of swept cash in your account.

Buy $5,000 of (marginable) ABC stock.

Spend $1,000 on a new TV. Now you’re borrowing $1,000 on margin with your Robinhood Gold account.

Will I earn interest if I’m on Robinhood Gold and Cash Management?

Regardless of your account type, you’ll earn interest on your uninvested cash that’s swept to the program banks. If you have “Gold Used” (i.e. you’re borrowing money), you won’t have uninvested cash to sweep to banks, so you won’t earn any interest. Since you’re borrowing money, you’ll pay interest on any money you borrow over $1,000.

Will I be able to use my card and pay bills if I’m on Robinhood Gold?

Yes. Using your card and paying bills works similarly to withdrawing money from your brokerage account. As a Gold customer you can use your Gold for day-to-day spending with Cash Management, so you might notice your “Gold Used” (i.e. debit balance) increases when your transactions are processed, similar to the way it would increase if you were borrowing cash to purchase stocks. You’ll be charged 5% interest on any amount you borrow over $1,000.

Can I spend and go below the minimum margin borrowing account balance of $2,000?

If you’re borrowing money, we’ll decline transactions that would take your account below the $2,000 minimum. The only exception is if you have a non-authorized transaction (such as a tip that exceeds the amount authorized). If this is the case, your account could fall below the $2,000 minimum.

Can I make a purchases that will trigger a margin call? Can a purchase make my account negative?

We’ll deny any authorization that would put your account into a margin call. The only exception is if you have a non-authorized transaction (such as a tip that exceeds the amount authorized). If this is the case, it could result in a margin call.

Does spending affect my daily day trade limit?

No. Your intraday spending activity, like withdrawals, doesn’t affect your day trade limit, which is issued at the beginning of each day.

Robinhood Gold gives me bigger instant deposits, can I use them on my card?

No. Instant deposits aren’t withdrawable, so they aren’t available to use with your Robinhood debit card.

How do I know if I’m spending Gold buying power or cash?

Your spending will always deduct from your cash first. If you exceed the amount of available cash, your Gold Used (i.e. debit balance) will increase when your transactions are processed, similar to the way it would increase if you were borrowing cash to purchase stocks.

Please keep in mind, you'll be charged 5% interest on any amount you borrow over $1,000.

Reference No. 20191005-967169-2929582
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