Robinhood Checking and Savings Accounts are a BIG DEAL. Here's why.

Robinhood Checking and Savings

Today, Robinhood, the app where you can trade stocks with no commission, announced checking and savings accounts where you can earn 3% on your money, don’t pay fees, and have access over 75,000 free ATMs.


How to Robinhood Checking and Savings Accounts Compare

The next best rate you can get on a checking or savings account from one of the major banks is incredibly low compared to Robinhood's offer of 3%. Here's a breakdown comparison:

Bank and AccountsRateBalance Requirement
WellsFargo Portfolio Checking0.05%$5000 or more
Wells Fargo Way2Save® Savings0.01%
Chase Savings Accounts0.01%All accounts, All balances
Bank of America0.03%
My Local Credit Union0.1%$300 or more

So, if you have $8000 in the bank, like the average American does, you will earn $240 per year just for having an account with Robinhood. No bank has a deal that good!

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