NOT FDIC INSURED! Hey team i wanted to talk about the news that Robinhood plans on offering a saving and checking account with 3% interest, 75,000 ATM's with no fees, and 24/7 customer support! CAN THEY HANDLE THE TRAFFIC WITH NOT THE BEST TRACK RECORD IN THERE CUSTOMER SUPPORT DEPARTMENT.
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27 thoughts on “Warning: robinhood’s 3% checking account”
  1. Avataaar/Circle Created with python_avatars Brent Blankenship says:

    I don’t trust Robinhood at all. They’ve screwed with my account, and customer service is little to none

  2. Avataaar/Circle Created with python_avatars Vincent Kay says:

    Where did you get the wooden panel behind you!?

  3. Avataaar/Circle Created with python_avatars HIGHLYLEGIT says:

    WAS A WAS A WAS A WAS A WASSUP BITCONNNNNEEEEEEEEEECT

  4. Avataaar/Circle Created with python_avatars Sel Dis Pat - Positive Thinker says:

    These brokers are not only offering zero commission, but has short selling feature — Webull, Firstrade, Tradezero America. RH has difficulty to build a short selling system.

  5. Avataaar/Circle Created with python_avatars Music/Bill Art says:

    If ROBINHOOD Savings Account Venture Fails, Then They Could Pay 5% & It Won't Matter, Because They Are NOT FDIC Insured, Which Means, Everyone Could Lose Their Money.
    I'm Told AMEX/American Express & ALLY Bank Pays 2% & IS FDIC Insured, No Miminum, No Fee, Which May Be A Much SAFER Way To Invest Our Money.

    It Would Be Nice If Robinhood Put Their Money Into REAL TIME Trades, To Fix Their Horrible Delay In Some Of The Trades Executed; & To Also Put Some Of Their Money Into REAL Time Customer Support Which Is Horrible, Rather Than Dipping Their Hands Into Everything They Can, To Try & Make A Quick Buck Off The Backs Of Hard Working People.

    Thank You Ricky For All That You Do For Us. Merry Christmas!!

  6. Avataaar/Circle Created with python_avatars Darin Kauffman says:

    Already shut down… Is no more… SEC…. Nice try Robinhood

  7. Avataaar/Circle Created with python_avatars Kellysmuji says:

    Dude, with the number and nature of the bugs I've encountered with robinhood I would be very very very skeptical of their bank effort. Like, I mean at one point my account on RH (real balance 11.50) at one point last week showed a balance of $2700 and then an hour later showed that I had a negative balance. I dropped RH a few weeks ago when they wouldn't allow me to sell dgaz and then buy ugaz. There was a balance of $11.50 that hadn't settled so I sort of forgot about it. When I checked it, the account balance was all over the board. Imagine that's your bank account.

    Don't trust it bro.

  8. Avataaar/Circle Created with python_avatars nope says:

    I appreciate hearing your opinion. Thanks for tackling this topic.

  9. Avataaar/Circle Created with python_avatars Investor Jess says:

    & no one gives a damn anymore

  10. Avataaar/Circle Created with python_avatars Jason Barton says:

    In your description at the end it should say “their” not “there” 👍🏽

  11. Avataaar/Circle Created with python_avatars Drake Hardisty says:

    The whole point of Robinhood is to grow your money in it, not spend it.

  12. Avataaar/Circle Created with python_avatars Thad Labrie says:

    It does sound borderline too good to be true, but I'm more hopeful than skeptical! I have my spot in line and will consider funding the account with more of my assets when the time comes. Biggest concern right now is FDIC and SIPC ability to insure funds, on standby for that. Overall, I think the app works great and commission free trades is a game changer especially for the new trader.

  13. Avataaar/Circle Created with python_avatars Jam Man says:

    Webull trading app is better in my opinion robinhood is like bitcoin people just use it becuase its the most popular of its kind but not the best

  14. Avataaar/Circle Created with python_avatars Nicholas Navarro says:

    Great video! As much as I love RobinHood to be honest when I heard about 3% yield with savings and checking feature I thought how are they getting the money to do this? This feels very reminiscent of what Moviepass did to disrupt the movie theaters and look what happened to them. They are now completely bankrupt. Like Robinhood is trying to do the “beat” the banks method. Also come to find out out that the SIPC not necessarily backing them up. I would caution everyone to be extremely careful with this “Cash Management Service”. This is a red flag if I ever did see one.

  15. Avataaar/Circle Created with python_avatars George McGovern says:

    RH changes their checking/savings accounts to a "cash management" account with little details on their website. looks like SIPC gave them a talking or a spanking..

  16. Avataaar/Circle Created with python_avatars Money Growth Academy says:

    I talked exactly about how crazy this Robinhood offer sounded. 3% would be incredible but in my opinion not worth the risk when it's not FDIC nor SIPC backed. Nice recap on whats going on, check out my take on it. I would love to hear your thoughts! Keep up the good content!

  17. Avataaar/Circle Created with python_avatars Yosef El Bey Bey says:

    This dude always hating on robinhood and others. Sucka

  18. Avataaar/Circle Created with python_avatars Daniel Otero says:

    I believe It mentioned that the interest rate can be variable depending on conditions of the markets so that 3% may change over the years

  19. Avataaar/Circle Created with python_avatars Berg says:

    That would be a big fat no vote from me. Robin Hood no longer has phone support and just as Ricky said they are woefully understaffed in the support department. Robin Hood had inexplicably froze my account about six weeks ago, it took me three days and about thirty emails before I finally had access to my account again.

  20. Avataaar/Circle Created with python_avatars Keith Welker says:

    Disappointed this seems click baity why bash it when it hasn't even launched yet??

  21. Avataaar/Circle Created with python_avatars The Green Circle says:

    I just turned 18 and signed up for my first savings account. Could be great!

  22. Avataaar/Circle Created with python_avatars Hola! Austin A says:

    If I text Robin hood to get a loan, and I get responses from "john smith" in broken English I'm gonna be pissed

  23. Avataaar/Circle Created with python_avatars Weldon Strachan says:

    Why did Robinhood update the app with a new interface?!! The original one was wayyyy better lol

  24. Avataaar/Circle Created with python_avatars Franky Ortiz says:

    Robinhood is far from bitconnect, i don’t think they try to offer anything unattainable just trying to change the game and be generous

  25. Avataaar/Circle Created with python_avatars SurfingCow says:

    Would you recommend robinhood or a different app

  26. Avataaar/Circle Created with python_avatars Pablo Villasana says:

    Time will tell how it plays out. I’ll wait itbout

  27. Avataaar/Circle Created with python_avatars Ricky Gutierrez says:

    This could be a game changer, but the 3% is pretty crazy especially when Robinhoods SAVINGS account would not be FDIC insured! Sounds too good to be true, almost like BITCONNNNNNNECT! LET ME KNOW WHAT YOU ALL THINK!

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