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I was wondering about this. RobinHood has offered interest on uninvested cash for a while. Once rates were dialed down, nobody seemed to care, but now that rate
by CameronNemo 4y ago
I was wondering about this. RobinHood has offered interest on uninvested cash for a while. Once rates were dialed down, nobody seemed to care, but now that rates are going up it is more important.
Recently when they announced their new card program, they mentioned that they would no longer be paying interest on cash. I am grandfathered into the new card program, but I was still thinking of leaving the brokerage before they kicked me off.
I got an email last week saying they increased their interest rate for uninvested cash. I was wondering if that was just for the old program or it was part of their future plans.
This is a nice clarification. I think.
Edit: this page seems to have changed since I last read it: https://robinhood.com/us/en/support/articles/difference-between-cm-and-spending-account/ https://robinhood.com/us/en/support/articles/difference-betw... Specifically the interest rate portion. Looks like they are including this in the new cash/card system they have.