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At least one competitor has 1.25% with minimal strings. I think Robinhood is going to have to do better if they want a meaningful amount of folks to park their
by seattle_spring 4y ago
At least one competitor has 1.25% with minimal strings. I think Robinhood is going to have to do better if they want a meaningful amount of folks to park their cash with them.
- CameronNemo 4y agoLots of competitors have better rates with strings attached. But among the major brokerages, interest on cash positions is unusual. And even HYSAs are not cracking 1% yet AFAIK.
- hbcondo714 4y agoMind mentioning the competitors?
- scubbo 4y agoOne Finance has a 1% savings account, and a 3% high-yield account that you need to jump through some hoops to fund (you can't put money into it directly, you can only skim 10% of any paycheque that you pay into your overall account)
- shawabawa3 4y agoThis is a brokerage account, not a savings account There's a meaningful difference as you can't keep funds you're waiting for an opportunity to buy with in a savings account (unless you want significant delays, thanks US banking system)
- mgh2 4y agoSofi
- lights0123 4y agoOnly with direct deposit set up, otherwise it's 0.70%.