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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For those who are interested in Trading & Investing, I encourage you to join Our Free Trading Group of over 130,000!
Thank you for the support, the best way to reach out to me is through our private discord chat, please DM me.
If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Real Estate, Car Sales, Robinhood, TD Ameritrade, Crypto & bitcoin, Entrepreneurship, Forex, Online Marketing, Online Sales or fun daily vlogs. Please let me know.
DISCLAIMER: Please note that i do not ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.any questions to message me as i would love to be a part of your success.
I don’t trust Robinhood at all. They’ve screwed with my account, and customer service is little to none
Where did you get the wooden panel behind you!?
WAS A WAS A WAS A WAS A WASSUP BITCONNNNNEEEEEEEEEECT
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.
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!!
Already shut down… Is no more… SEC…. Nice try Robinhood
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.
I appreciate hearing your opinion. Thanks for tackling this topic.
& no one gives a damn anymore
In your description at the end it should say “their” not “there” 👍🏽
The whole point of Robinhood is to grow your money in it, not spend it.
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.
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
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.
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..
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!
This dude always hating on robinhood and others. Sucka
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
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.
Disappointed this seems click baity why bash it when it hasn't even launched yet??
I just turned 18 and signed up for my first savings account. Could be great!
If I text Robin hood to get a loan, and I get responses from "john smith" in broken English I'm gonna be pissed
Why did Robinhood update the app with a new interface?!! The original one was wayyyy better lol
Robinhood is far from bitconnect, i don’t think they try to offer anything unattainable just trying to change the game and be generous
Would you recommend robinhood or a different app
Time will tell how it plays out. I’ll wait itbout
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!