What is Robinhood cash management?

This review provides an overview of Robinhood’s cash management account, its features and how it compares to the competition. Account details and annual percentage yields (APYs) are accurate as of April 4, 2023. Robinhood Cash Management is an interest-bearing account that offers features similar to checking and savings accounts.

Can I use my Robinhood Cash Card 24 hours a day?

You can use your Robinhood Cash Card 24 hours a day, 7 days a week, as long as you have enough available cash in your spending account to cover purchases. What’s available cash? Available cash is any cash that you have in your spending account that you can withdraw or spend.

What is Robinhood spending?

The Robinhood Spending account is a separate account, offered by Robinhood Money LLC, a licensed money transmitter, and does not require having a brokerage account. Question: What do I have through Cash Management today? Answer: Cash Management is offered through your brokerage account, and you have access to the following features.

Why do day traders choose Robinhood cash?

Day traders sometimes choose the Robinhood Cash option because Robinhood Cash accounts aren’t subject to the same pattern day trading restrictions as Robinhood Instant and Robinhood Gold accounts. However, Robinhood users on Reddit have shared their experiences with Robinhood Cash. Many of the reviews are negative.