Robinhood Banking Rating: ★★★★½ (4.5 out of 5)

Robinhood Banking Overview

In this article, we’ll cover:

• Robinhood has launched a new banking service with many premium features.

• A savings account at Robinhood Banking has a 3.5% APY right now.

• Beyond everyday cash management, Robinhood Banking offers estate planning, tax advice, and more.

If you want daily money management with a long list of extra features, Robinhood has a new service to consider. Here are the details:

Overview of Robinhood Banking

Robinhood Banking is a new program that is currently rolling out by invitation. This cash-management service goes well beyond ordinary banking. In addition to checking and savings accounts, Robinhood has added these perks:

3.5% APY on its savings account
International transfers into more than a hundred currencies
24/7 customer service
FDIC insurance up to $2.5 million
Estate planning
Tax advice
Event tickets
Luxury helicopter rides
Member-only vacation clubs
Personal chauffeurs
Cash delivery to your doorstep
Hard-copy checks
Wire transfers
Premium hotel experiences

That is a long list of features. The event tickets include some high-end experiences, such as the Met Gala, the Oscars, Coachella, and the F1 Monaco Grand Prix.

And just to be clear, Robinhood Banking doesn’t simply supplement a spending account. Robinhood is shutting down its previous cash card and spending accounts; they are being replaced entirely by Robinhood Banking.

There are some limitations to this new premium program that Robinhood clients should understand. The cash-delivery service, for example, is currently available only in select zip codes in select regions. Routes for the program’s helicopter service are limited. Robinhood also has no branch locations, so this can’t function exactly like a traditional banking service.

Robinhood Banking review

FDIC Insurance

One feature that is similar to traditional banking is the presence of FDIC protection. Robinhood’s new banking program is provided by Coastal Community Bank, a member of the FDIC. Robinhood advertises up to $2.5 million in FDIC insurance for Robinhood Banking, which is ten times the standard $250,000 FDIC coverage limit at a single insured bank.

Some banks in Robinhood’s broader cash sweep network include:

Goldman Sachs Bank USA
Wells Fargo Bank, N.A.
Morgan Stanley Bank, N.A.
Morgan Stanley Private Bank
Truist Bank
Citibank

Available Accounts in Robinhood Banking

Through Robinhood Banking, the following account types are available:

Individual checking and savings
Joint
Child accounts

Credit Cards

Closely connected to Robinhood Banking is the company’s lineup of premium credit cards. The first is the Robinhood Gold card. This card is made of stainless steel and comes with 3% cash back in all categories. Virtual cards are available, and the card includes standard cardholder benefits, such as extended warranty protection and travel assistance. Family members can be added to the card, and different spending limits can be set for different family members.

The second card Robinhood offers is its newer Platinum card. Also issued through the Visa network, this card is designed for customers who want a more upscale product. And if stainless steel isn’t premium enough, Robinhood’s Platinum card is plated with 99.9% pure platinum. That is definitely a high-end touch.

Travelers will find a lot to like about the Platinum card. In addition to no foreign-transaction fees, Robinhood offers Global Entry or TSA PreCheck® benefits. Cardholders get 5% cash back on flights and 10% back on rental cars and hotels booked through the Robinhood Banking app. The default benefit is 1% cash back in other categories, a possible downside.

Also available to Platinum cardholders is access to more than 1,300 Priority Pass lounges at airports around the world. And we should mention the annual $500 hotel credit. In total, there is more than $3,000 in annual value that cardholders can receive. There are benefits tied to DoorDash and Amazon One Medical, for example.

Signing Up for Robinhood Banking

Robinhood Banking is currently rolling out by invitation only. If you don’t get an invite in your inbox or mailbox, you can request one. Head to the and look for the black Request Access button. Click on this and enter your email address. When Robinhood is ready to bring you on board, you’ll get an email.

Robinhood Incentive

Open Robinhood Account

Fees and Minimums for Robinhood Banking

With so many perks aimed at customers who want a premium financial service, Robinhood does not make every benefit available without requirements.

Robinhood does require a meaningful asset level to unlock the highest benefit tier. A Premier level must be achieved and maintained to get some features; at least $100,000 in assets under custody is needed for Premier. Direct deposit of at least $1,000 per month into a Robinhood checking account may also be required to keep certain perks.

Robinhood Banking App

It is unknown at this time if the extravagant services mentioned above, like helicopter rides and chauffeurs, will cost anything extra. With a required annual Robinhood Gold subscription price tag of $50 per year, one has to assume they will.

Robinhood’s current banking fee schedule lists no fee for in-network ATM withdrawals when direct deposit requirements are met. Out-of-network ATM fees vary by benefit tier, and ATM operator fees may also apply.

The Platinum card comes with a $695 annual fee. There’s no annual fee on the Gold card, though, and Robinhood has eliminated foreign transaction fees on both cards.

Robinhood Banking review

For both Robinhood Banking and the Gold Visa card, a Robinhood Gold membership is required. Robinhood Banking requires an annual Robinhood Gold subscription, while Platinum cardholders receive Gold as a complimentary benefit.

Software for Robinhood Banking

Banking customers at Robinhood get the same digital-first approach that investing customers receive. Robinhood has also rolled out a separate Robinhood Banking app. Inside the app, it is easy to create a virtual credit-card number when one is needed. A useful tool in the special app shows how much each family member has spent recently. An alert shows when a payment is due, and card and account balances are displayed. Transfers are quick and simple, and navigation is straightforward thanks to a clean menu at the bottom. The app works on both Android and Apple phones.

Robinhood Promotion

Open Robinhood Account

Reviewed by Andrew Fitzgerald

Updated on 5/7/2026.

Robinhood Banking Features & Benefits Review: Worth It in 2026?