Get started with Cash Management

How do I sign up for Cash Management?

We have discontinued new sign ups for Cash Management. If you are still interested in our spending products, join the waitlist for the Robinhood spending account and Cash Card.

Does adding money to Robinhood change if I’m using Cash Management?

Yes. Cash Management gives customers more ways to add money to their brokerage account:

• Link a bank account: These funds appear as pending on your Cash tab until they clear in up to five business days. We’ll notify you when these funds clear and are available for spending.
• Set up direct deposit: You can have your paycheck or government deposits like tax refunds deposited directly into your brokerage account.
• Use your ACH account number and routing number: The ACH account number is your brokerage account number with a prefix. The routing number identifies the financial institution. You can find your ACH account number and routing number in your app by tapping the Transfer button.

We work with partner banks to process transactions. ACH account and routing numbers may be issued by Sutton Bank or JPMorgan Chase Bank, and the Robinhood debit card is issued by Sutton Bank. This means that transfers to and from your Cash Management account may appear as transfers to and from Sutton Bank or JPMorgan Chase Bank in your transaction history at other institutions.

How do I link my Robinhood debit card to other accounts?

To link your Robinhood debit card with other accounts, you’ll need your debit card number. You can find your card number, expiration date, and CVC by tapping the card in the Cash tab.

Can I use Cash Management before my physical debit card arrives?

Yes. Once you’ve activated your card in the app, you can do all of the following:

• Start earning interest on your uninvested brokerage cash
• **Set up direct deposit: **Tap “Transfer” to find your ACH account number and routing number
• Set up Apple Pay, Google Pay, or Samsung Pay: Tap your card in your app under the Cash tab to see your card number, expiration date, and CVC
• Make online purchases: Tap your card in your app under the Cash tab to see your card number, expiration date, and CVC
• Pay bills using your debit card or your ACH account number and routing number

How do I activate my debit card?

To activate your debit card:

1. Go into the Cash tab
2. Under the Debit Card section, tap Have you received your card?
3. Tap the Yes button
4. Turn on Spend Alerts (optional)
5. Turn on Location Protection (optional)

What do I do if I didn’t receive my debit card?

To find out if your card is still on its way or to request a new card:

1. Go into the Cash tab
2. Under the Debit Card section, tap Have you received your card?
3. Tap the No button

What happens when I downgrade from Cash Management or close my brokerage account?

If you decide to downgrade from Cash Management or close your brokerage account entirely, you’ll receive the prorated interest earned that you've earned intra-month leading to your downgrade or brokerage account closure. Starting the day you downgrade or close your account, you’ll no longer earn interest on your uninvested brokerage cash. At this time, you will not be able to re-upgrade to Cash Management after downgrading.

If your brokerage account has been downgraded because you signed up for the Robinhood spending account, you’ll continue to have access to the brokerage cash sweep program for cash held in the brokerage account.

• You decide to downgrade from Cash Management: Your brokerage account is no longer enrolled in the brokerage cash sweep program. You can opt back into the brokerage cash sweep program at any time by visiting the Investing section of the Settings in the app.
• You are on Cash Management, then sign up for the Robinhood spending account: Your brokerage account is still enrolled in the brokerage cash sweep program.
• You decide to downgrade from Cash Management. Later, you open a Robinhood spending account: Your brokerage account is unenrolled from the brokerage cash sweep program when you downgrade and remain unenrolled even after you open the Robinhood spending account. You can opt back into the brokerage cash sweep program at any time by visiting the Investing section of the Settings in the app.

You can downgrade from Cash Management as long as you do not have pending card transactions. Any pending card transactions will either settle or expire, depending on the type of transaction. While most pending authorizations will settle within a few days, some pre-authorization transactions (such as a hold in advance of a hotel stay) may result in an extended hold. Transactions that settle will go from Pending to Complete and will appear in your transaction history. If a hold on a charge in your account expires before the charge settles, we’ll release the money. When this happens, the charge will disappear from the Recent History section in your app.

Keep in mind, once you downgrade from Cash Management or close your brokerage account, your debit card will no longer work and any new transactions will be declined.