Are there fees?
Cash Management is no longer accepting new customers at this time. If you currently use Cash Management, you can sign up to switch to the Robinhood spending account.
At Robinhood, we aim to cut all the fees we can. This means that for Cash Management, we do not charge:
There’s no dollar minimum to open or maintain a brokerage account. You only need 1 cent to start earning interest.
You also don’t need to worry about overdraft fees because your Robinhood debit card does not charge them. We’ll generally decline transactions that make you go negative if you don’t have enough available cash, including any available margin credit, to cover it. We don’t charge you anything for getting declined for insufficient funds. If you are making a payment to a third party, and the transaction is declined because you do not have sufficient funds, the third party may charge you a fee.
Please keep in mind that other fees, Gold fees, or third party fees may apply to your brokerage account. You can check out our fee schedule to learn more.
Gold accounts with margin spending enabled will incur interest if your debit card transactions are funded from margin. For example, if you have a Gold account, and spend more available cash than you have in your account with your debit card, margin will activate and you will be charged interest on any amount you borrow over $1,000.
Cash Management is an added feature to your Robinhood Financial LLC brokerage account. Neither Robinhood Financial LLC nor any of its affiliates are banks. Interest is earned on uninvested cash swept from your brokerage account to program banks. The debit card is issued by Sutton Bank, Member FDIC, pursuant to license from Mastercard® International Incorporated.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on margin. Margin investing involves the risk of greater investment losses.