Brokerage sweep program
Starting on or after November 10, 2025, you’ll need to be a Robinhood Gold member to continue using this program with self-directed investing accounts.
Customers who opt in to the brokerage cash sweep program (the IntraFi Network Deposit (IND) Sweep Service) will have their eligible uninvested brokerage cash automatically swept or moved into deposits at a network of program banks.
Cash deposited to these banks will be eligible for FDIC insurance of up to $2.5 million for individual accounts and up to $5 million for joint accounts as of January 15, 2025 inclusive of deposits you already hold at banks in the same ownership capacity. If you choose to opt out of one or more program banks, your maximum FDIC insurance coverage may be reduced. Robinhood is not an FDIC-insured bank. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply.
While the FDIC insurance coverage limit at each bank is $250,000, $2,000 is reserved for accrued interest at each bank.
Let’s say you have a $260,000 cash balance that is eligible to be swept. You’ll have the first $248,000 swept into a bank on the program bank list, and the next $12,000 will be swept into another bank on the program bank list (subject to any capacity considerations at the banks).
You’re responsible for monitoring the amount of your deposits with each program bank (including deposits made through the brokerage cash sweep program or in other accounts at the program bank held in the same ownership capacity) to determine whether the amount on deposit exceeds the limit of available FDIC insurance.
The following Robinhood account types are eligible for the brokerage cash sweep program:
Self-directed, individual investing accounts and joint investing accounts
Individual and retirement accounts managed by Robinhood Strategies, which are automatically enrolled in the cash sweep program
You can disable the cash sweep program by repeating these steps and selecting Disable cash sweep.
The following are our FDIC-insured program banks as of September 15, 2025. Keep in mind, Robinhood may change the network of program banks at any time. If a change is made, we’ll let you know in advance.
Contact us if you have any questions or want to exclude a specific bank from your sweep options. Keep in mind, you can ask to exclude a bank only after it’s been added. Review the IntraFi Network Deposit Sweep Program Agreement for more information.
*Comerica Bank will be added on or after October 30, 2025.
If you don’t want your cash to be swept to a specific bank, contact us.
Let’s say you already have deposits at one of the program banks that, when combined with the cash swept to that bank through the brokerage cash sweep, make your cash at that bank go over $250,000. Then you might want to exclude that bank from your sweep options.
Yes! Your uninvested brokerage cash in the program banks is available for withdrawing and investing through your non-retirement, self-directed investing account and the cash balance is visible in your account.
Similarly, the swept cash in all accounts managed by Robinhood Strategies is available for use in account management and the cash balance is visible in your account.
If you've been flagged as a pattern day trader (PDT), you can still sign up for the brokerage cash sweep program, but you won’t be eligible to earn interest until your PDT flag is removed.
If you're flagged as a PDT while enrolled, your enrollment will be paused from the brokerage sweep program and your cash swept back from the program banks. Any accrued interest will be paid to your investing account, but you won’t accrue any additional interest until your PDT flag is removed. For more details, review Brokerage cash sweep and PDT.
The brokerage cash sweep is an added feature to your Robinhood Financial, LLC individual investing account.
Interest is earned on uninvested cash swept to program banks from non-retirement, investing accounts, and from all accounts managed by Robinhood Strategies. The APY might change at any time at the program banks' discretion. Additionally, any fees or charges Robinhood receives may vary and are subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks.
With the brokerage cash sweep program, the eligible uninvested cash in your investing account (unrestricted cash intended for investing that hasn't yet been invested or spent) is swept to program banks, where it becomes eligible for FDIC insurance up to $2.5 million for individual accounts and up to $5 million for joint accounts or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. If you opt out of one or more program banks, your FDIC insurance coverage may be reduced. Note that until funds are swept to a program bank, they are held in your investing account which is protected by SIPC. Once funds are swept to a program bank, they are no longer held in your investing account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the Program Banks subject to FDIC insurance coverage limits and any capacity limitations at the banks. Review the IntraFi Network Deposit Sweep Program Agreement for more information. Robinhood is not an FDIC-insured bank. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply.
Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
The brokerage cash sweep program is a required feature of your account managed by Robinhood Asset Management, LLC (“RAM” or “Robinhood Strategies”), an SEC-registered investment advisor. Robinhood Financial LLC (member SIPC) is a registered broker dealer. Robinhood Securities LLC (member SIPC) provides clearing services.