Robinhood

[rmt]

Nope - it's not what you think. Anyone care to help me check this out? Dd says there's been lots of discussion (among co-workers and friends) about it and it's legit but no one knows how long they'll offer it.

https://www.cnbc.com/2018/12/13/robinhood-goes-after-banks-with-checking-and-savings-accounts.html

[spurraider21]

my bro in law uses them for trading... nothing but good reviews from him.

3% checking/savings seems too good to be true. then again, so did zero-fee trading

[rmt]

So either trading OR checking/saving but not both?

[spurraider21]

think its both

[rmt]

think its both

The company is a member of FINRA, a Securities and Exchange Commission registered broker-dealer, and is a member of the Securities Investor Protection Corporation, or SIPC. Robinhood accounts are SIPC-insured up to $250,000 but the agency does not guarantee customers would get their money back in every situation. Assets can be backed by one of the agencies — either the FDIC or SIPC — but not both.

[rmt]

Thanks, SR21 - reassuring to hear of someone who has actually used it. 3% sounds TOO good to be true so I'm super suspicious. Dd says she thinks there's a waiting list and debit cards aren't being sent out until January but I don't want/need a debit card.

[DMC]

btw, this is an SR-21

https://s3.amazonaws.com/mgm-content/sites/armslist/uploads/posts/2017/01/16/6336844_01_robar_sr_21_precision_rifle_640.jpg

:lol

[Spurtacular]

They FDIC insured?

[ElNono]

They FDIC insured?

SIPC-insured

[ElNono]

The company is a member of FINRA, a Securities and Exchange Commission registered broker-dealer, and is a member of the Securities Investor Protection Corporation, or SIPC. Robinhood accounts are SIPC-insured up to $250,000 but the agency does not guarantee customers would get their money back in every situation.

https://en.wikipedia.org/wiki/Securities_Investor_Protection_Corporation

[clambake]

go for it

easy come easy go