What's a Robinhood spending account?

The Robinhood spending account is an account that lets you spend, pay and request money from friends, opt into round-ups, and get paid early. You can also get a Robinhood Cash Card issued by Sutton Bank. You can use your Robinhood Cash Card and routing and account numbers to buy groceries, pay bills, send checks, and more.

When you open a Robinhood spending account, you can get a Robinhood Cash Card issued by Sutton Bank.

If you don't want a physical debit card, you can opt for a virtual debit card. You can use the virtual card online and through Apple Pay, Google Pay, or Samsung Pay. Check out Robinhood Cash Card for details.

Open a Robinhood spending account.

• Cash held in your spending account may be eligible for pass-through FDIC insurance of up to $250,000 should the bank holding your funds fail. RHY currently partners with JP Morgan Chase Bank, N.A. to hold funds in your spending account, and Sutton Bank holds funds associated with your Cash Card. Review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement for more information.
• You’ll be issued new routing and account numbers that you can use for direct deposit
• You can get a new Robinhood Cash Card
• You can opt into round-ups on your Robinhood Cash Card
• You can opt into getting paid up to 2 days early
• You can opt into paycheck recurring investments into equities in the individual investing account and crypto in the crypto account
• You can send and receive money on Robinhood through Pay & Request and earn up to $25 when you invite friends

Early access to direct deposit funds depends on timing of the payer's submission of deposits and is not guaranteed. We generally make these funds available on the day the payment file is received which may be up to two days earlier than the scheduled payment date. Early access to direct deposit funds are not eligible for FDIC pass-through insurance if provided before the scheduled payment date.

Round-up, recurring paycheck deposits, and other products and services made available within your spending account are provided by Robinhood Money. The Robinhood Cash Card is not used for stock or crypto-related transactions. Sutton Bank is not involved in the stock or crypto-related transactions. You must have an individual investing account with Robinhood Financial LLC (RHF) or a crypto account with Robinhood Crypto (RHC) in order to fully utilize investment features. Crypto accounts are not available in all U.S. jurisdictions.

Paycheck recurring investment and round-up recurring investments are made available through your individual investing account with RHF and your crypto account with RHC. You must authorize the transfer of funds from your spending account to your individual investing account and place recurring trade orders with RHF to invest in securities or RHC to invest in crypto through these programs.

All investments involve risk and loss of principal is possible.

ATM fees and other fees may apply. Review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement.