Robinhood Banking makes it simple to manage your money, track your net worth, and grow your savings—all in one app. Below you’ll find everything you need to get started, including details on account types, limits, fees, and helpful comparisons.

Your banking benefit tier is determined by your Assets Under Custody (AUC) and direct deposit activity.

• AUC (Assets Under Custody) = equities, cryptocurrencies, and cash held in Robinhood (excluding margin).
• Excluded: Crypto wallets (self-custodied) and margin balances.

You can set up direct deposit anytime in the Home tab → Set up direct deposit. From there, you have 3 options to set up direct deposit:

• Guided setup: Quickly search for your payroll provider and update your direct deposit entirely in the app
• Do it yourself: Provide your routing and account numbers and request updating your direct deposit selections with your employer directly
• Pre-filled form: Order a pre-filled form with all required information to update your direct deposit selection with your employer

Our guided setup searches for your payroll provider. If you’re unable to find your payroll provider or complete login through guided setup, you can use either manual option to still update your direct deposit. If you have any questions on how to update direct deposit with your employer, your HR department should be able to help.

Direct deposit requirements

• You'll have a limited preview for 60 days from when your account is opened to explore and enjoy your direct deposit benefits. To keep those benefits long-term, simply maintain your annual Robinhood Gold subscription ($50) and set up a direct deposit of at least $1,000 per month into your checking account within that timeframe. After that, you’ll keep your benefits as long as you don't go 3 consecutive months without meeting the direct deposit requirement.
• If your first ever direct deposit is less than $1,000. We'll waive the requirement for that month, plus the two months right after. Giving you time to meet the requirement and maintain your benefits.
• Recurring transfers from other banks aren’t considered direct deposits. Direct deposits must come from an employer or indicate that it's a payroll transaction.
• Without direct deposits, you don’t earn any interest (0% APY) on your Robinhood checking account. For your savings account, you can still earn 3.5% APY, but only if you have an active annual Robinhood Gold subscription ($50).

Check out Banking benefits and fees for more details.

Your daily transfer limits and fees may vary depending on your tier. Review Banking benefits and fees for more information.

Fees (with qualifying direct deposit)

Review Banking benefits and fees for more information.

Robinhood Banking automatically tracks your assets and liabilities to give you a full picture of your net worth.

• Link your external bank accounts, real estate, loans, and credit cards to review everything in one place. If something can’t be linked, you can manually add and manage assets or liabilities to keep your financial picture complete.
• Watch trends over time with charts and breakdowns by category.
• Use insights to manage debt, savings goals, and investments.
• Personalize your views by hiding accounts or excluding certain account balances from your total net worth.
• Refresh data with a click of a button (refresh icon in the top right corner).

Key features included with a checking account:

• Cash delivery (in select regions as we continue to expand)
• A Robinhood debit card for everyday purchases
• Free ATM withdrawals at in-network ATMs (when you have direct deposit enabled)
• FDIC insured up to applicable limits
• Order a physical checkbook
• Mail a check
• Mobile check deposit
• Add cash

Key features included with a savings account:

• Earns APY on deposits when qualifying direct deposit is enabled in your checking account
• FDIC insured up to applicable limits
• Create savings goals in the app and track progress

*The annual Gold subscription fee still applies. Fees for other features may also apply depending on your benefits tier.

You can share checking and savings accounts (and the benefits) with others while managing their access. Check out Child and joint accounts for more information.

Once you receive your invite, you can select Get started in the email, or, if you’re already a Gold Card customer, follow these steps:

1. Open the Banking app and go to the Banking tab
2. Select Get started
3. Follow the prompts and enter your information

Next, you can explore your tier benefits, set up your direct deposit, and start tracking your net worth. Review Money movements to start linking your accounts.

Robinhood is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC.